Rice Partnership LLC Invests $3.97 Million in Stryker Corporation (NYSE:SYK)

Rice Partnership LLC acquired a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,670 shares of the medical technology company's stock, valued at approximately $3,972,000.

Other hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in shares of Stryker in the 4th quarter worth $26,000. Rakuten Securities Inc. raised its position in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares during the period. Goodman Advisory Group LLC purchased a new position in shares of Stryker in the 1st quarter worth $32,000. City Holding Co. raised its position in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Stryker in the 4th quarter worth $36,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SYK. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Citigroup reissued a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Evercore ISI cut their price objective on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $427.30.

Insider Buying and Selling

In related 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 value of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.90% of the company's stock.

Stryker Stock Up 0.0%

Shares of Stryker stock opened at $392.00 on Friday. The business has a 50-day moving average of $382.92 and a 200-day moving average of $376.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The company has a market capitalization of $149.62 billion, a PE ratio of 52.97, a P/E/G ratio of 2.98 and a beta of 0.91. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The company 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 23.74% and a net margin of 12.31%. The company's revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.50 earnings per share. As a group, equities analysts forecast that Stryker Corporation will post 13.47 EPS 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 $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker's dividend payout ratio (DPR) is 45.41%.

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.

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