Greenwood Capital Associates LLC Has $6.60 Million Holdings in Stryker Co. (NYSE:SYK)

Greenwood Capital Associates LLC lowered its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 22.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,734 shares of the medical technology company's stock after selling 5,076 shares during the period. Greenwood Capital Associates LLC's holdings in Stryker were worth $6,601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SYK. Elefante Mark B acquired a new position in shares of Stryker during the 4th quarter worth approximately $337,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Stryker during the 1st quarter worth about $1,840,000. Metis Global Partners LLC raised its holdings 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 period. Fred Alger Management LLC raised its holdings 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 period. Finally, US Bancorp DE boosted its stake in Stryker by 0.5% during the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock worth $65,829,000 after buying an additional 976 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

Shares of NYSE SYK traded down $3.11 during trading on Friday, hitting $377.38. The company had a trading volume of 436,065 shares, compared to its average volume of 1,327,465. The business's 50-day moving average is $371.93 and its 200 day moving average is $375.92. The company has a market cap of $144.04 billion, a P/E ratio of 48.60, a PEG ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. 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 issued its quarterly 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 firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. Stryker's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.50 EPS. Equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling

In other 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 value of $75,392,000.00. Following the completion of the sale, the director now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYK. Roth Mkm increased their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Evercore ISI cut their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Citigroup reissued a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, BTIG Research set a $403.00 price objective on Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.