First Affirmative Financial Network Lowers Stock Position in Stryker Co. (NYSE:SYK)

First Affirmative Financial Network cut its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 36.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,177 shares of the medical technology company's stock after selling 1,799 shares during the period. Stryker accounts for about 0.7% of First Affirmative Financial Network's holdings, making the stock its 27th biggest position. First Affirmative Financial Network's holdings in Stryker were worth $1,183,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Elefante Mark B purchased a new position in shares of Stryker during the fourth quarter worth approximately $337,000. Appleton Partners Inc. MA grew its position in Stryker by 5.0% in the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after buying an additional 1,400 shares during the last quarter. Metis Global Partners LLC grew its position in Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after buying an additional 1,561 shares during the last quarter. Fred Alger Management LLC grew its position in Stryker by 415.8% in the 4th quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock valued at $8,664,000 after buying an additional 19,356 shares during the last quarter. Finally, US Bancorp DE grew its position in Stryker by 0.5% in the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock valued at $65,829,000 after buying an additional 976 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value 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. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SYK shares. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Finally, Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $427.30.

Stryker Trading Up 0.3%

NYSE:SYK opened at $384.15 on Friday. The company has a market capitalization of $146.63 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a fifty day simple moving average of $370.10 and a 200-day simple moving average of $376.03.

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

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Stryker 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.

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