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

Penserra Capital Management LLC lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 125.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,032 shares of the medical technology company's stock after acquiring an additional 1,132 shares during the period. Penserra Capital Management LLC's holdings in Stryker were worth $756,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SYK. Norges Bank bought a new position in shares of Stryker in the 4th quarter valued at approximately $1,710,744,000. GAMMA Investing LLC raised its stake in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares in the last quarter. FMR LLC raised its stake in shares of Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after acquiring an additional 727,850 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Stryker in the 4th quarter valued at approximately $154,140,000. Finally, Northern Trust Corp increased its position in Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after buying an additional 420,153 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SYK. Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Roth Mkm lifted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Evercore ISI lifted their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Finally, Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

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 on Tuesday, May 6th. The stock was 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 owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

SYK stock traded down $5.52 during trading on Friday, hitting $389.25. The company had a trading volume of 317,936 shares, compared to its average volume of 1,457,479. The company has a fifty day moving average price of $384.57 and a two-hundred day moving average price of $376.97. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company has a market cap of $148.57 billion, a P/E ratio of 52.60, a P/E/G ratio of 2.96 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.

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, topping analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 earnings per share. Equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker's payout ratio is currently 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.