Park Place Capital Corp Decreases Stake in Stryker Corporation (NYSE:SYK)

Park Place Capital Corp decreased its position in Stryker Corporation (NYSE:SYK - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 678 shares of the medical technology company's stock after selling 1,017 shares during the period. Park Place Capital Corp's holdings in Stryker were worth $252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC increased 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 valued at $53,000 after buying an additional 27 shares during the last quarter. Lindbrook Capital LLC increased its stake in Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after buying an additional 28 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Stryker by 5.8% during the 1st 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 last quarter. United Community Bank increased its stake in shares of Stryker by 3.4% during the 4th quarter. United Community Bank now owns 904 shares of the medical technology company's stock worth $325,000 after purchasing an additional 30 shares during the last quarter. Finally, Ironwood Investment Counsel LLC increased its stake in shares of Stryker by 0.9% during the 4th quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company's stock worth $1,196,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction 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 completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.90% of the stock is currently owned by insiders.

Stryker Stock Up 0.8%

Shares of NYSE:SYK opened at $393.70 on Friday. The firm has a fifty day moving average price of $379.01 and a two-hundred day moving average price of $375.45. 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 Corporation has a one year low of $314.93 and a one year high of $406.19. The company has a market cap of $150.27 billion, a price-to-earnings ratio of 53.20, a PEG ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the firm earned $2.50 EPS. The business's quarterly revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SYK shares. Roth Mkm raised their price target 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. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday, May 5th. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Citigroup restated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and a consensus target price of $427.30.

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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