GAMMA Investing LLC Buys 2,070,133 Shares of Stryker Co. (NYSE:SYK)

GAMMA Investing LLC raised its stake in Stryker Co. (NYSE:SYK - Free Report) by 43,226.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,074,922 shares of the medical technology company's stock after acquiring an additional 2,070,133 shares during the quarter. GAMMA Investing LLC owned approximately 0.54% of Stryker worth $772,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at about $26,000. Rakuten Securities Inc. boosted its stake in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the fourth quarter valued at about $33,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Argus set a $450.00 target price on shares of Stryker in a research note on Monday, February 3rd. Citigroup reissued a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. BTIG Research set a $403.00 price target on shares of Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on 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 transaction, the director now owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by insiders.

Stryker Price Performance

Stryker stock traded up $0.51 during midday trading on Friday, reaching $382.86. 1,993,145 shares of the stock were exchanged, compared to its average volume of 1,339,482. The company's fifty day moving average is $368.77 and its 200-day moving average is $376.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market cap of $146.13 billion, a PE ratio of 49.34, a PEG ratio of 2.93 and a beta of 0.93. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

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.