Stryker Corporation (NYSE:SYK) is Stonebridge Capital Management Inc.'s 5th Largest Position

Key Points

• Stonebridge Capital Management Inc. reduced its stake in Stryker Corporation by 2.7% during the first quarter, retaining 24,835 shares valued at approximately $9.24 million.
• Director Ronda E. Stryker sold 200,000 shares of Stryker stock for around $75.29 million, decreasing her ownership by 5.84%.
• Stryker recently posted $3.13 EPS for the last quarter, exceeding analysts' expectations of $3.07, with a year-over-year revenue increase of 11.1%.

Stonebridge Capital Management Inc. cut its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,835 shares of the medical technology company's stock after selling 700 shares during the quarter. Stryker comprises 4.0% of Stonebridge Capital Management Inc.'s holdings, making the stock its 5th largest position. Stonebridge Capital Management Inc.'s holdings in Stryker were worth $9,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new position in shares of Stryker in the fourth quarter worth about $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker in the first quarter worth about $32,000. City Holding Co. grew its holdings in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in Stryker during the first quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Stryker during the fourth quarter worth about $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of Stryker stock opened at $377.73 on Friday. Stryker Corporation has a one year low of $322.03 and a one year high of $406.19. The company has a market cap of $144.41 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 2.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The business's 50 day moving average price is $387.17 and its 200 day moving average price is $380.15.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the business posted $2.81 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's payout ratio is currently 44.50%.

Analyst Upgrades and Downgrades

Several analysts recently commented on SYK shares. Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Roth Mkm raised their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company raised their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

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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