Dakota Wealth Management Purchases 1,533 Shares of Stryker Corporation (NYSE:SYK)

Dakota Wealth Management raised its stake in Stryker Corporation (NYSE:SYK - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,598 shares of the medical technology company's stock after acquiring an additional 1,533 shares during the period. Dakota Wealth Management's holdings in Stryker were worth $10,650,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SYK. Capital A Wealth Management LLC bought a new position in shares of Stryker during the fourth quarter valued at $26,000. Goodman Advisory Group LLC bought a new position in shares of Stryker during the first quarter valued at $32,000. City Holding Co. lifted its holdings in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Stryker during the fourth quarter valued at $36,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker during the first quarter valued at $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of NYSE:SYK traded down $3.22 during trading on Thursday, hitting $387.66. 357,522 shares of the company's stock were exchanged, compared to its average volume of 1,349,543. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The business's 50-day simple moving average is $385.38 and its 200 day simple moving average is $377.55. The company has a market cap of $147.96 billion, a price-to-earnings ratio of 52.39, a PEG ratio of 2.95 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 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. As a group, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Finally, BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

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.