Bridges Investment Management Inc. Reduces Stock Position in Stryker Corporation (NYSE:SYK)

Bridges Investment Management Inc. decreased its position in Stryker Corporation (NYSE:SYK - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 57,322 shares of the medical technology company's stock after selling 9,268 shares during the quarter. Bridges Investment Management Inc.'s holdings in Stryker were worth $21,338,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew 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 worth $1,643,000 after acquiring an additional 609 shares during the last quarter. Assetmark Inc. grew its holdings 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 worth $467,000 after purchasing an additional 285 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Stryker by 46.2% in the fourth quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock valued at $596,000 after buying an additional 523 shares in the last quarter. NBT Bank N A NY raised its holdings in shares of Stryker by 20.1% in the fourth quarter. NBT Bank N A NY now owns 4,240 shares of the medical technology company's stock valued at $1,527,000 after buying an additional 709 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in 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 buying an additional 2,883 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Performance

SYK traded up $2.55 during trading hours on Wednesday, hitting $392.05. The stock had a trading volume of 871,885 shares, compared to its average volume of 1,350,851. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company's fifty day simple moving average is $383.81 and its 200 day simple moving average is $376.67. The stock has a market cap of $149.64 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last issued 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 return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the prior year, the firm posted $2.50 EPS. The firm's quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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 dividend payout ratio is presently 45.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SYK shares. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.

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.