GAMMA Investing LLC Has $2.08 Million Holdings in Stryker Corporation (NYSE:SYK)

GAMMA Investing LLC boosted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,574 shares of the medical technology company's stock after purchasing an additional 785 shares during the quarter. GAMMA Investing LLC's holdings in Stryker were worth $2,075,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares during the period. NewEdge Wealth LLC increased its holdings in Stryker by 10.5% in the 4th quarter. NewEdge Wealth LLC now owns 6,250 shares of the medical technology company's stock valued at $2,250,000 after buying an additional 595 shares during the period. Kovack Advisors Inc. increased its holdings in Stryker by 8.7% in the 4th quarter. Kovack Advisors Inc. now owns 726 shares of the medical technology company's stock valued at $261,000 after buying an additional 58 shares during the period. Flputnam Investment Management Co. increased its holdings in Stryker by 137.6% in the 4th quarter. Flputnam Investment Management Co. now owns 92,137 shares of the medical technology company's stock valued at $33,174,000 after buying an additional 53,366 shares during the period. Finally, SVB Wealth LLC bought a new stake in Stryker in the 4th quarter valued at $11,321,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 0.8%

Shares of NYSE:SYK opened at $393.70 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market cap of $150.27 billion, a P/E ratio of 53.20, a P/E/G ratio of 2.97 and a beta of 0.91. The company's 50-day moving average price is $379.01 and its two-hundred day moving average price is $375.45.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the company posted $2.50 EPS. The company's revenue was up 11.9% compared to the same quarter last year. As a group, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker's payout ratio is presently 45.41%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This 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. Corporate insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SYK. Citigroup reissued a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and issued 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 lowered their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $427.30.

About Stryker

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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