Mattern Capital Management LLC Has $9.57 Million Holdings in Stryker Corporation (NYSE:SYK)

Mattern Capital Management LLC cut its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 3.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,704 shares of the medical technology company's stock after selling 918 shares during the period. Stryker comprises approximately 1.2% of Mattern Capital Management LLC's investment portfolio, making the stock its 26th biggest holding. Mattern Capital Management LLC's holdings in Stryker were worth $9,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. raised its holdings 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 valued at $28,000 after purchasing an additional 68 shares during the last quarter. BankPlus Trust Department acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $33,000. Finally, City Holding Co. raised its holdings in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on SYK. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Evercore ISI lowered their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.20% of the stock is currently owned by company insiders.

Stryker Price Performance

NYSE:SYK opened at $386.80 on Wednesday. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The company has a market cap of $147.64 billion, a P/E ratio of 52.27, a P/E/G ratio of 2.86 and a beta of 0.91. The firm's fifty day moving average price is $376.26 and its two-hundred day moving average price is $375.19. 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 released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. Equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

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.

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