Mirae Asset Global Investments Co. Ltd. Grows Position in Stryker Corporation (NYSE:SYK)

Mirae Asset Global Investments Co. Ltd. grew its stake in Stryker Corporation (NYSE:SYK - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,258 shares of the medical technology company's stock after buying an additional 2,892 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Stryker were worth $16,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mascoma Wealth Management LLC raised its stake in Stryker by 22.7% in the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock worth $53,000 after acquiring an additional 27 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after purchasing an additional 28 shares during the period. Continuum Advisory LLC lifted its holdings in shares of Stryker by 5.8% during the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after purchasing an additional 29 shares during the period. Oakworth Capital Inc. boosted its position in Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after buying an additional 29 shares during the last quarter. Finally, United Community Bank increased its holdings in Stryker by 3.4% in the 4th quarter. United Community Bank now owns 904 shares of the medical technology company's stock worth $325,000 after buying an additional 30 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE SYK opened at $393.70 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The stock's 50 day simple moving average is $379.01 and its 200-day simple moving average is $375.45. The company has a market cap of $150.27 billion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted 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 return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the company earned $2.50 EPS. The firm's revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.85%. Stryker's dividend payout ratio is presently 45.41%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Stryker

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 transaction of $75,392,000.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is owned by insiders.

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.

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