Hoxton Planning & Management LLC Buys Shares of 1,971 Stryker Corporation (NYSE:SYK)

Key Points

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Hoxton Planning & Management LLC purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,971 shares of the medical technology company's stock, valued at approximately $734,000.

A number of other institutional investors also recently added to or reduced their stakes in SYK. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after buying an additional 54,693 shares during the period. FMR LLC lifted its holdings in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares during the period. Northern Trust Corp lifted its holdings in shares of Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after buying an additional 420,153 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after buying an additional 2,070,133 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Stryker by 15.3% in the fourth quarter. Invesco Ltd. now owns 2,007,105 shares of the medical technology company's stock valued at $722,658,000 after buying an additional 266,587 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Down 3.6%

SYK stock traded down $14.11 during mid-day trading on Friday, hitting $378.62. The stock had a trading volume of 3,012,250 shares, compared to its average volume of 1,156,084. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a fifty day moving average of $387.46 and a 200 day moving average of $380.30. The stock has a market capitalization of $144.52 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 2.91 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 24.12% and a net margin of 12.25%. The business's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 EPS. On average, equities analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's dividend payout ratio is currently 45.41%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SYK shares. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Citigroup reaffirmed a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $429.35.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.90% of the company's stock.

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.