Penserra Capital Management LLC Grows Stock Holdings in Stryker Corporation (NYSE:SYK)

Penserra Capital Management LLC increased its position 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. The fund owned 2,032 shares of the medical technology company's stock after purchasing 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 quarter.

Several other hedge funds have also made changes to their positions in SYK. Mascoma Wealth Management LLC increased its stake in Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock worth $53,000 after acquiring an additional 27 shares during the last quarter. Continuum Advisory LLC raised its holdings in Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after buying an additional 29 shares during the period. Oakworth Capital Inc. lifted its position in Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after buying an additional 29 shares during the last quarter. Ironwood Investment Counsel LLC boosted its stake in Stryker by 0.9% during the fourth quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company's stock worth $1,196,000 after buying an additional 30 shares during the period. Finally, ICW Investment Advisors LLC increased its position in shares of Stryker by 0.6% during the fourth quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company's stock valued at $1,745,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director directly owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This 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 can be accessed through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on SYK. Evercore ISI increased their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Truist Financial increased their target price on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Stock Up 0.7%

Stryker stock traded up $2.62 during mid-day trading on Thursday, hitting $394.67. The company had a trading volume of 1,167,734 shares, compared to its average volume of 1,350,122. The stock has a market cap of $150.64 billion, a price-to-earnings ratio of 53.33, a PEG ratio of 2.94 and a beta of 0.91. 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 Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The business has a fifty day moving average of $384.17 and a 200 day moving average of $376.78.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion during 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%. Stryker's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 earnings per share. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid 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 0.85%. Stryker's dividend payout ratio is presently 45.41%.

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.