Oppenheimer & Co. Inc. Boosts Position in Stryker Corporation (NYSE:SYK)

Oppenheimer & Co. Inc. increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,425 shares of the medical technology company's stock after buying an additional 1,218 shares during the period. Oppenheimer & Co. Inc.'s holdings in Stryker were worth $8,348,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC grew its holdings in shares of Stryker by 0.7% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after purchasing an additional 26 shares during the period. Mascoma Wealth Management LLC grew its holdings in shares of Stryker by 22.7% in the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after purchasing an additional 27 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Stryker by 2.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after purchasing an additional 28 shares during the period. Continuum Advisory LLC grew its holdings in shares of Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after purchasing an additional 29 shares during the period. Finally, United Community Bank grew its holdings in shares of Stryker by 3.4% in the fourth quarter. United Community Bank now owns 904 shares of the medical technology company's stock valued at $325,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Up 0.9%

Shares of NYSE:SYK opened at $379.03 on Tuesday. The firm's 50 day moving average price is $375.47 and its 200 day moving average price is $375.11. The stock has a market cap of $144.67 billion, a price-to-earnings ratio of 51.22, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 earnings per share. As a group, equities research analysts predict 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. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. Stryker's payout ratio is currently 45.41%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore ISI lowered their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 target price 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 stock a "buy" rating in a research note on Monday, April 14th. Finally, Roth Mkm increased their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is owned by corporate 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.

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