Forum Financial Management LP Acquires 699 Shares of Stryker Corporation (NYSE:SYK)

Forum Financial Management LP boosted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 28.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,154 shares of the medical technology company's stock after acquiring an additional 699 shares during the period. Forum Financial Management LP's holdings in Stryker were worth $1,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Brighton Jones LLC boosted its holdings in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after buying an additional 609 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Stryker by 46.2% during the 4th quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock valued at $596,000 after purchasing an additional 523 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Stryker by 25.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 398 shares of the medical technology company's stock valued at $143,000 after purchasing an additional 81 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Stryker by 3.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 96,868 shares of the medical technology company's stock valued at $34,983,000 after purchasing an additional 3,629 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in shares of Stryker during the 4th quarter worth $3,384,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 0.0%

Stryker stock traded down $0.06 during mid-day trading on Friday, hitting $388.84. The company had a trading volume of 1,716,294 shares, compared to its average volume of 1,355,776. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The stock's 50 day moving average price is $385.51 and its two-hundred day moving average price is $377.73. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market capitalization of $148.42 billion, a PE ratio of 52.55, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping 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 firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the business earned $2.50 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Evercore ISI lifted their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Citigroup reissued a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Finally, Roth Mkm lifted 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. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 5.90% of the company's stock.

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.