Stryker Corporation (NYSE:SYK) Position Increased by Artemis Investment Management LLP

Artemis Investment Management LLP lifted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 9.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 182,073 shares of the medical technology company's stock after buying an additional 15,070 shares during the quarter. Artemis Investment Management LLP's holdings in Stryker were worth $67,777,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mascoma Wealth Management LLC raised its position in shares of Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock worth $53,000 after purchasing an additional 27 shares during the period. Lindbrook Capital LLC grew its stake in Stryker by 2.0% during the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after buying an additional 28 shares during the last quarter. Continuum Advisory LLC increased its position in Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after buying an additional 29 shares during the period. United Community Bank lifted its stake 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 buying an additional 30 shares during the last quarter. Finally, Ironwood Investment Counsel LLC lifted its stake in Stryker by 0.9% in the fourth quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company's stock valued at $1,196,000 after buying an additional 30 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK opened at $390.67 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The firm has a market cap of $149.11 billion, a PE ratio of 52.79, a PEG ratio of 2.96 and a beta of 0.91. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The firm's 50 day moving average price is $378.06 and its 200 day moving average price is $375.38.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company earned $2.50 earnings per share. The business's revenue was up 11.9% compared to the same quarter last year. As a group, research analysts expect 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. Investors 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 yield of 0.86%. Stryker's payout ratio is presently 45.41%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYK. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. BTIG Research set a $403.00 target price on shares of Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Finally, Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred 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 sale, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company's stock.

About Stryker

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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