Manitou Investment Management Ltd. Acquires 1,834 Shares of Stryker Co. (NYSE:SYK)

Manitou Investment Management Ltd. lifted its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,952 shares of the medical technology company's stock after purchasing an additional 1,834 shares during the quarter. Stryker accounts for about 3.6% of Manitou Investment Management Ltd.'s holdings, making the stock its 13th largest position. Manitou Investment Management Ltd.'s holdings in Stryker were worth $18,595,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. grew its position in shares of Stryker by 618.2% in the 4th 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 period. Centricity Wealth Management LLC bought a new position in shares of Stryker during the fourth quarter valued at approximately $30,000. Finally, City Holding Co. grew its stake in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYK. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research report on Friday. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. Finally, BTIG Research set a $403.00 price target on 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 given a buy rating to the stock. According to MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average price target of $427.30.

Insider Buying and Selling at Stryker

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

Stryker Price Performance

Shares of NYSE SYK traded up $2.93 during mid-day trading on Tuesday, hitting $385.21. 952,227 shares of the company's stock traded hands, compared to its average volume of 1,330,163. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company's 50-day moving average is $370.19 and its two-hundred day moving average is $375.85. The company has a market capitalization of $147.03 billion, a P/E ratio of 49.64, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The company 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%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. On average, equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Stryker 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.