Fishman Jay A Ltd. MI Cuts Position in Stryker Corporation (NYSE:SYK)

Fishman Jay A Ltd. MI decreased its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 4.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 77,107 shares of the medical technology company's stock after selling 3,520 shares during the period. Stryker makes up about 3.1% of Fishman Jay A Ltd. MI's investment portfolio, making the stock its 11th largest position. Fishman Jay A Ltd. MI's holdings in Stryker were worth $28,703,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SYK shares. Needham & Company LLC reissued a "buy" rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI reduced their price target on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. Finally, BTIG Research set a $403.00 price target on shares of Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

NYSE SYK opened at $375.44 on Friday. The stock's 50-day moving average price is $374.95 and its two-hundred day moving average price is $375.30. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company has a market cap of $143.30 billion, a PE ratio of 50.73, a PEG ratio of 2.81 and a beta of 0.91. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.50 EPS. On average, analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's dividend payout ratio is 45.41%.

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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.