Tyche Wealth Partners LLC Reduces Position in Stryker Corporation (NYSE:SYK)

Tyche Wealth Partners LLC reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 67.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,059 shares of the medical technology company's stock after selling 2,221 shares during the period. Tyche Wealth Partners LLC's holdings in Stryker were worth $394,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Elefante Mark B purchased a new position in Stryker in the fourth quarter worth $337,000. Mogy Joel R Investment Counsel Inc. lifted its stake in Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after purchasing an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its position in shares of Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Stryker during the first quarter valued at about $1,840,000. Finally, Metis Global Partners LLC lifted its holdings in shares of Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after acquiring an additional 1,561 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SYK shares. Citigroup reissued a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Evercore ISI dropped their price objective on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Finally, BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $427.30.

Stryker Stock Up 1.0%

NYSE SYK traded up $4.07 during trading hours on Friday, reaching $394.47. 223,973 shares of the company's stock traded hands, compared to its average volume of 1,336,595. The firm has a market cap of $150.57 billion, a PE ratio of 53.30, a PEG ratio of 2.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The firm has a 50-day simple moving average of $378.06 and a 200 day simple moving average of $375.38.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker's payout ratio is currently 45.41%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.90% of the stock is currently owned by insiders.

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.