Sivik Global Healthcare LLC Trims Stock Position in Stryker Corporation (NYSE:SYK)

Sivik Global Healthcare LLC cut its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,500 shares of the medical technology company's stock after selling 2,500 shares during the period. Stryker makes up 3.5% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 12th biggest holding. Sivik Global Healthcare LLC's holdings in Stryker were worth $6,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC raised its stake in Stryker by 0.7% during the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after acquiring an additional 26 shares during the last quarter. Mascoma Wealth Management LLC grew its holdings 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 period. Lindbrook Capital LLC raised its position in Stryker by 2.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after acquiring an additional 28 shares in the last quarter. United Community Bank lifted its holdings in Stryker by 3.4% in the fourth quarter. United Community Bank now owns 904 shares of the medical technology company's stock valued at $325,000 after acquiring an additional 30 shares during the period. Finally, Ironwood Investment Counsel LLC boosted its position in shares of Stryker by 0.9% during the 4th quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company's stock worth $1,196,000 after purchasing an additional 30 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. BTIG Research set a $403.00 price target on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Truist Financial raised their price objective on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Finally, Evercore ISI decreased their target price on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Stryker Trading Up 0.6%

Shares of Stryker stock opened at $375.44 on Friday. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a market cap of $143.30 billion, a PE ratio of 50.73, a P/E/G ratio of 2.81 and a beta of 0.91. The business's fifty day moving average is $374.95 and its two-hundred day moving average is $375.30. 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 issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the company posted $2.50 EPS. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is currently 45.41%.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.

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