Stryker Co. (NYSE:SYK) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in Stryker Co. (NYSE:SYK - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,843 shares of the medical technology company's stock after purchasing an additional 6,436 shares during the period. Fifth Third Bancorp's holdings in Stryker were worth $35,678,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of Stryker during the 4th quarter worth about $26,000. Rakuten Securities Inc. raised its position in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker in the 4th quarter valued at about $30,000. Finally, BankPlus Trust Department acquired a new stake in Stryker in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Trading Down 0.9%

Shares of SYK stock traded down $3.48 during trading on Friday, hitting $377.01. 876,021 shares of the stock traded hands, compared to its average volume of 1,330,548. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The firm has a market capitalization of $143.90 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The firm's fifty day moving average price is $371.93 and its 200-day moving average price is $375.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the business earned $2.50 earnings per share. The company's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Roth Mkm upped their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, BTIG Research set a $403.00 target price on shares of Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.