Bryn Mawr Capital Management LLC Lowers Stock Position in Stryker Corporation (NYSE:SYK)

Bryn Mawr Capital Management LLC decreased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 68.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,163 shares of the medical technology company's stock after selling 6,807 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Stryker were worth $1,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Continuum Advisory LLC raised its stake in shares of Stryker by 5.8% during the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after buying an additional 29 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after purchasing an additional 29 shares in the last quarter. ICW Investment Advisors LLC increased its stake in Stryker by 0.6% during the 4th quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company's stock worth $1,745,000 after buying an additional 30 shares in the last quarter. Rinkey Investments increased its stake in Stryker by 1.1% during the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after buying an additional 30 shares in the last quarter. Finally, Tritonpoint Wealth LLC increased its stake in Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after buying an additional 30 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SYK shares. Needham & Company LLC restated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Finally, Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Stock Performance

NYSE:SYK traded up $1.30 during mid-day trading on Friday, reaching $390.20. The stock had a trading volume of 243,720 shares, compared to its average volume of 1,348,280. 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 firm has a market capitalization of $148.94 billion, a price-to-earnings ratio of 52.80, a PEG ratio of 2.95 and a beta of 0.91. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The business has a 50 day simple moving average of $385.51 and a 200 day simple moving average of $377.73.

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 (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the firm earned $2.50 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 annualized dividend and a yield of 0.86%. Stryker's payout ratio is currently 45.41%.

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.