Penserra Capital Management LLC Buys 1,132 Shares of Stryker Corporation (NYSE:SYK)

Penserra Capital Management LLC raised its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 125.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,032 shares of the medical technology company's stock after purchasing an additional 1,132 shares during the quarter. Penserra Capital Management LLC's holdings in Stryker were worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in Stryker during the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. raised its stake in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after acquiring an additional 68 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter worth approximately $32,000. City Holding Co. raised its stake in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Stryker during the fourth quarter worth approximately $36,000. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on SYK shares. Roth Mkm lifted 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. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Evercore ISI lifted their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. Finally, Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. 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, Stryker has a consensus rating of "Moderate Buy" and an average price target of $428.55.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 sale, the director owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE:SYK opened at $392.05 on Thursday. The stock has a market cap of $149.64 billion, a P/E ratio of 52.98, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The firm's fifty day simple moving average is $384.17 and its 200 day simple moving average is $376.78. Stryker Corporation has a twelve month low of $314.93 and a twelve month 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 announced its earnings results 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. 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 analysts' expectations of $5.68 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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 issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) 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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