Redwood Investments LLC Has $6.64 Million Position in Stryker Co. (NYSE:SYK)

Redwood Investments LLC boosted its position in Stryker Co. (NYSE:SYK - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,433 shares of the medical technology company's stock after buying an additional 820 shares during the period. Stryker makes up about 1.8% of Redwood Investments LLC's holdings, making the stock its 13th biggest position. Redwood Investments LLC's holdings in Stryker were worth $6,637,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker in the 4th quarter valued at about $25,000. Rakuten Securities Inc. lifted its holdings in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after acquiring an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter worth about $30,000. BankPlus Trust Department acquired a new stake in Stryker in the fourth quarter valued at approximately $33,000. Finally, Activest Wealth Management acquired a new position in Stryker in the 4th quarter worth $36,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Transactions at Stryker

In other Stryker 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 transaction of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.90% of the company's stock.

Stryker Trading Down 1.3%

Stryker stock traded down $5.01 during mid-day trading on Tuesday, hitting $389.68. The stock had a trading volume of 461,134 shares, compared to its average volume of 1,559,791. The stock has a 50-day simple moving average of $367.24 and a two-hundred day simple moving average of $375.80. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a market capitalization of $148.74 billion, a PE ratio of 50.22, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the prior year, the business posted $2.50 EPS. Stryker's revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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 dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker's payout ratio is presently 45.41%.

Analysts Set New Price Targets

SYK has been the subject of several recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Roth Mkm boosted their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. BTIG Research set a $403.00 price objective on shares of Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Stifel Nicolaus lifted their price target on Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, StockNews.com lowered Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average price target of $427.05.

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.