Sterling Investment Counsel LLC bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,153 shares of the medical technology company's stock, valued at approximately $801,000.
Other hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker during the 4th quarter worth about $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Stryker during the 4th quarter worth about $26,000. Rakuten Securities Inc. lifted its stake in shares of Stryker by 618.2% during 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 last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker during the 4th quarter worth about $30,000. Finally, City Holding Co. lifted its stake in shares of Stryker by 528.6% during 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 last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.
Analyst Ratings Changes
SYK has been the subject of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. BTIG Research set a $403.00 price objective on shares of Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Roth Mkm lifted their price objective 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. Finally, Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $427.30.
Check Out Our Latest Research Report on SYK
Insider Activity at Stryker
In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is currently owned by insiders.
Stryker Price Performance
Shares of NYSE:SYK opened at $373.22 on Thursday. The firm has a 50 day moving average of $373.92 and a 200-day moving average of $375.52. The stock has a market capitalization of $142.45 billion, a PE ratio of 50.43, a PEG ratio of 2.82 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19.
Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS 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 analysts' expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. On average, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.
Stryker Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 0.90%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is presently 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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