Sigma Investment Counselors Inc. trimmed its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,500 shares of the medical technology company's stock after selling 1,131 shares during the quarter. Stryker accounts for approximately 0.9% of Sigma Investment Counselors Inc.'s investment portfolio, making the stock its 26th biggest position. Sigma Investment Counselors Inc.'s holdings in Stryker were worth $15,076,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of SYK. Capital A Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at $26,000. Rakuten Securities Inc. increased its holdings in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after purchasing an additional 68 shares during the period. Goodman Advisory Group LLC acquired a new stake in Stryker in the 1st quarter valued at about $32,000. City Holding Co. boosted its stake in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Stryker during the fourth quarter worth about $36,000. 77.09% of the stock is owned by institutional investors and hedge funds.
Stryker Stock Performance
SYK stock traded down $5.53 on Friday, hitting $389.24. The company's stock had a trading volume of 825,133 shares, compared to its average volume of 1,352,494. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a 50 day moving average of $384.79 and a two-hundred day moving average of $377.10. The stock has a market cap of $148.57 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 2.98 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 EPS for the quarter, beating 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 the consensus estimate of $5.68 billion. During the same period in the prior year, the business earned $2.50 EPS. The firm's revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.
Stryker Dividend Announcement
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 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 dividend payout ratio is currently 45.41%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. 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. 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. Truist Financial increased their target price on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, Evercore ISI lifted their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $428.55.
Read Our Latest Report on Stryker
Insider Buying and Selling
In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.90% of the company's stock.
About Stryker
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Free Report)
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.
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