IFM Investors Pty Ltd Has $25.90 Million Stock Holdings in Stryker Corporation (NYSE:SYK)

IFM Investors Pty Ltd grew its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 9.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,686 shares of the medical technology company's stock after purchasing an additional 6,052 shares during the period. IFM Investors Pty Ltd's holdings in Stryker were worth $25,897,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after buying an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $4,000,056,000 after acquiring an additional 54,693 shares during the last quarter. FMR LLC raised its holdings in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares in the last quarter. Geode Capital Management LLC boosted its position in Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after purchasing an additional 168,436 shares during the last quarter. Finally, Norges Bank purchased a new position in Stryker in the fourth quarter valued at about $1,710,744,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. Citigroup reaffirmed a "buy" rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Roth Mkm lifted their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research report on Monday, May 5th. Finally, BTIG Research set a $403.00 price target on shares of Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Stock Performance

Shares of NYSE SYK traded up $0.19 during trading hours on Friday, hitting $392.00. 536,295 shares of the company's stock were exchanged, compared to its average volume of 1,346,875. The company's 50-day moving average price is $382.39 and its 200-day moving average price is $375.99. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The stock has a market capitalization of $149.62 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 2.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director owned 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is currently owned by company insiders.

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.