Smithbridge Asset Management Inc. DE bought a new stake in Stryker Co. (NYSE:SYK - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,770 shares of the medical technology company's stock, valued at approximately $6,615,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at about $26,000. Rakuten Securities Inc. boosted its stake in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the fourth quarter valued at about $33,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were 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 now owns 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research note on Tuesday, March 4th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Roth Mkm lifted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. Finally, Evercore ISI reduced their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Five equities research 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.
Check Out Our Latest Research Report on Stryker
Stryker Price Performance
SYK stock traded down $3.48 during midday trading on Friday, reaching $377.01. The company had a trading volume of 876,021 shares, compared to its average volume of 1,330,548. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market capitalization of $143.90 billion, a P/E ratio of 48.58, a P/E/G ratio of 2.93 and a beta of 0.91. The firm has a 50-day moving average price of $371.93 and a 200-day moving average price of $375.92.
Stryker (NYSE:SYK - Get Free Report) last released 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. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The business's quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's dividend payout ratio (DPR) is 45.41%.
About Stryker
(
Free Report)
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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