Harbour Capital Advisors LLC Purchases 1,223 Shares of Stryker Corporation (NYSE:SYK)

Harbour Capital Advisors LLC lifted its position in Stryker Corporation (NYSE:SYK - Free Report) by 71.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,926 shares of the medical technology company's stock after buying an additional 1,223 shares during the quarter. Harbour Capital Advisors LLC's holdings in Stryker were worth $1,077,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares during the last quarter. BankPlus Trust Department bought a new stake in shares of Stryker during the 4th quarter worth $33,000. Finally, City Holding Co. grew its stake in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.20% of the company's stock.

Stryker Price Performance

Stryker stock traded up $7.64 during mid-day trading on Tuesday, hitting $386.80. 1,746,007 shares of the company were exchanged, compared to its average volume of 1,334,370. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $375.47 and a 200 day moving average of $375.11. The company has a market capitalization of $147.64 billion, a PE ratio of 52.27, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is presently 45.41%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYK. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.