Bridges Investment Management Inc. Cuts Stake in Stryker Corporation (NYSE:SYK)

Bridges Investment Management Inc. reduced its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 13.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,322 shares of the medical technology company's stock after selling 9,268 shares during the period. Bridges Investment Management Inc.'s holdings in Stryker were worth $21,338,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares during the period. Assetmark Inc. increased its position in shares of Stryker by 28.1% during the fourth quarter. Assetmark Inc. now owns 1,298 shares of the medical technology company's stock valued at $467,000 after buying an additional 285 shares during the period. Proficio Capital Partners LLC raised its stake in Stryker by 46.2% in the fourth quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock worth $596,000 after buying an additional 523 shares in the last quarter. NBT Bank N A NY boosted its position in Stryker by 20.1% during the 4th quarter. NBT Bank N A NY now owns 4,240 shares of the medical technology company's stock valued at $1,527,000 after acquiring an additional 709 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Stryker by 5.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 51,886 shares of the medical technology company's stock worth $18,682,000 after acquiring an additional 2,883 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Stryker stock traded up $3.64 during mid-day trading on Thursday, reaching $395.69. 424,322 shares of the stock traded hands, compared to its average volume of 1,347,241. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The business's 50-day moving average is $384.17 and its 200-day moving average is $376.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The stock has a market capitalization of $151.03 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

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. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the firm posted $2.50 earnings per share. The firm's revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business 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 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the business'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 transaction of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Truist Financial lifted their price target on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Evercore ISI upped their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday. BTIG Research set a $403.00 target price on shares of Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. Finally, Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

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.