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

QRG Capital Management Inc. trimmed its position in Stryker Co. (NYSE:SYK - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,302 shares of the medical technology company's stock after selling 1,949 shares during the quarter. QRG Capital Management Inc.'s holdings in Stryker were worth $35,104,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYK. Sagespring Wealth Partners LLC grew its position in Stryker by 10.3% in the first quarter. Sagespring Wealth Partners LLC now owns 3,370 shares of the medical technology company's stock worth $1,254,000 after acquiring an additional 315 shares in the last quarter. Great Lakes Retirement Inc. increased its position in shares of Stryker by 7.8% during the 1st quarter. Great Lakes Retirement Inc. now owns 5,120 shares of the medical technology company's stock valued at $1,906,000 after purchasing an additional 372 shares during the last quarter. Adero Partners LLC raised its holdings in Stryker by 51.7% during the 1st quarter. Adero Partners LLC now owns 1,215 shares of the medical technology company's stock valued at $452,000 after buying an additional 414 shares during the period. Sowell Financial Services LLC bought a new stake in Stryker in the first quarter worth $1,072,000. Finally, Montecito Bank & Trust boosted its stake in Stryker by 3.1% during the first quarter. Montecito Bank & Trust now owns 1,996 shares of the medical technology company's stock worth $743,000 after buying an additional 60 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of NYSE SYK traded down $0.25 during midday trading on Monday, reaching $377.05. The company had a trading volume of 965,082 shares, compared to its average volume of 1,331,421. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The business's 50-day simple moving average is $372.73 and its 200 day simple moving average is $375.66. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $143.91 billion, a P/E ratio of 48.59, a P/E/G ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 EPS. On average, analysts forecast 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 given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup restated a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. BTIG Research set a $403.00 target price on shares of Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. Finally, Truist Financial raised their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $427.30.

Insider Buying and Selling at Stryker

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

Stryker 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.