Point72 Hong Kong Ltd Buys Shares of 20,271 Stryker Co. (NYSE:SYK)

Point72 Hong Kong Ltd purchased a new position in shares of Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 20,271 shares of the medical technology company's stock, valued at approximately $7,299,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the fourth quarter valued at about $25,000. Rakuten Securities Inc. raised its holdings in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Stryker during the fourth quarter valued at about $30,000. BankPlus Trust Department bought a new position in Stryker during the fourth quarter valued at about $33,000. Finally, Activest Wealth Management bought a new position in shares of Stryker in the fourth quarter worth about $36,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Barclays raised their target price on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. raised their target price on Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Roth Mkm raised their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Argus set a $450.00 target price on Stryker in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $427.05.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company'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 now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company's stock.

Stryker Trading Down 1.2%

Shares of NYSE SYK traded down $4.58 during midday trading on Tuesday, hitting $390.11. The stock had a trading volume of 415,134 shares, compared to its average volume of 1,343,872. The company's 50-day simple moving average is $367.24 and its 200 day simple moving average is $375.80. The firm has a market cap of $148.90 billion, a P/E ratio of 50.27, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results 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. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.50 EPS. Research analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 0.86%. Stryker's dividend payout ratio (DPR) 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.