Y Intercept Hong Kong Ltd Raises Stake in Stryker Corporation (NYSE:SYK)

Y Intercept Hong Kong Ltd increased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 136.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,184 shares of the medical technology company's stock after buying an additional 6,451 shares during the period. Y Intercept Hong Kong Ltd's holdings in Stryker were worth $4,163,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Riverpoint Wealth Management Holdings LLC boosted its position in Stryker by 28.6% during the 1st quarter. Riverpoint Wealth Management Holdings LLC now owns 1,224 shares of the medical technology company's stock worth $456,000 after buying an additional 272 shares during the period. PFG Advisors lifted its position in shares of Stryker by 30.4% in the 1st quarter. PFG Advisors now owns 14,841 shares of the medical technology company's stock worth $5,525,000 after purchasing an additional 3,458 shares during the period. Obermeyer Wealth Partners lifted its position in shares of Stryker by 9.0% in the 1st quarter. Obermeyer Wealth Partners now owns 2,896 shares of the medical technology company's stock worth $1,078,000 after purchasing an additional 239 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of Stryker by 6.5% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,638 shares of the medical technology company's stock worth $1,720,000 after purchasing an additional 282 shares during the period. Finally, Peregrine Asset Advisers Inc. acquired a new position in shares of Stryker in the 1st quarter worth approximately $205,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 1.0%

SYK traded up $4.07 during mid-day trading on Friday, reaching $400.73. 248,146 shares of the stock were exchanged, compared to its average volume of 1,441,028. 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 stock has a market capitalization of $152.95 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The company has a 50 day moving average price of $386.19 and a two-hundred day moving average price of $378.90. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. As a group, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is 45.41%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYK shares. Citigroup restated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Finally, Truist Financial lifted their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

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.