Stryker Corporation (NYSE:SYK) Shares Sold by World Equity Group Inc.

World Equity Group Inc. reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 68.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 859 shares of the medical technology company's stock after selling 1,867 shares during the period. World Equity Group Inc.'s holdings in Stryker were worth $319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. J. W. Coons Advisors LLC raised its stake in Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after purchasing an additional 26 shares during the last quarter. Mascoma Wealth Management LLC raised its position in shares of Stryker by 22.7% in the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after buying an additional 27 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after buying an additional 28 shares during the period. United Community Bank boosted its position in Stryker by 3.4% during the fourth quarter. United Community Bank now owns 904 shares of the medical technology company's stock worth $325,000 after acquiring an additional 30 shares during the last quarter. Finally, Ironwood Investment Counsel LLC boosted its position in Stryker by 0.9% during the fourth quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company's stock worth $1,196,000 after acquiring an additional 30 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the 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 sale, the director now directly owns 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 the SEC website. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on SYK shares. The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. BTIG Research set a $403.00 price target on Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Finally, Roth Mkm raised their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Trading Up 0.6%

Shares of NYSE SYK opened at $375.44 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The stock's 50 day moving average price is $374.95 and its two-hundred day moving average price is $375.20. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a market capitalization of $143.30 billion, a P/E ratio of 50.73, a PEG ratio of 2.83 and a beta of 0.91.

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 the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.50 EPS. On average, analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Stryker 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.

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