Stryker Co. (NYSE:SYK) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI reduced its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 13.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,482 shares of the medical technology company's stock after selling 1,283 shares during the period. Parsons Capital Management Inc. RI's holdings in Stryker were worth $3,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elefante Mark B acquired a new position in Stryker during the fourth quarter worth about $337,000. Metis Global Partners LLC boosted its stake in shares of Stryker by 10.2% during the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after acquiring an additional 1,561 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Stryker by 415.8% in the 4th quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after acquiring an additional 19,356 shares during the period. US Bancorp DE increased its stake in Stryker by 0.5% in the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock valued at $65,829,000 after purchasing an additional 976 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Stryker by 5.0% in the 4th quarter. Larson Financial Group LLC now owns 10,294 shares of the medical technology company's stock valued at $3,706,000 after purchasing an additional 492 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 value of $75,392,000.00. Following the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company's stock.

Stryker Trading Down 0.5%

SYK stock traded down $2.08 during midday trading on Wednesday, hitting $382.98. The stock had a trading volume of 155,739 shares, compared to its average volume of 1,327,281. The company's 50-day moving average price is $370.53 and its 200 day moving average price is $375.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market cap of $146.18 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 earnings per share. On average, equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm 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 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 45.41%.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research analyst reports. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm boosted their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Evercore ISI lowered their price objective on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $427.30.

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.