Stryker Co. (NYSE:SYK) Shares Purchased by Courier Capital LLC

Courier Capital LLC grew its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 22.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,740 shares of the medical technology company's stock after purchasing an additional 686 shares during the period. Courier Capital LLC's holdings in Stryker were worth $1,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker during the fourth quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter worth about $26,000. Rakuten Securities Inc. grew its position in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter worth about $30,000. Finally, BankPlus Trust Department acquired a new position in shares of Stryker during the fourth quarter worth about $33,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on 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 now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SYK shares. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. BTIG Research set a $403.00 price objective on Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. The Goldman Sachs Group set a $422.00 price target on Stryker in a report on Tuesday, March 4th. Finally, Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Stryker Stock Performance

Shares of Stryker stock traded down $4.02 during trading hours on Wednesday, hitting $381.03. 792,341 shares of the company were exchanged, compared to its average volume of 1,330,630. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. 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 business has a 50-day moving average of $370.53 and a 200-day moving average of $375.91. The stock has a market capitalization of $145.43 billion, a price-to-earnings ratio of 49.10, a P/E/G ratio of 2.93 and a beta of 0.91.

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 the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. 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 prior year, the business earned $2.50 earnings per share. The company's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's payout ratio is 45.41%.

Stryker Company 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.