Stryker Co. (NYSE:SYK) is BlueSpruce Investments LP's 7th Largest Position

BlueSpruce Investments LP lessened its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 928,673 shares of the medical technology company's stock after selling 89,230 shares during the period. Stryker comprises approximately 6.8% of BlueSpruce Investments LP's investment portfolio, making the stock its 7th biggest position. BlueSpruce Investments LP owned 0.24% of Stryker worth $334,369,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SYK. J. W. Coons Advisors LLC grew its holdings in shares of Stryker by 0.7% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock worth $1,315,000 after purchasing an additional 26 shares during the last quarter. Mascoma Wealth Management LLC increased its holdings in Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock worth $53,000 after purchasing an additional 27 shares during the period. Opal Wealth Advisors LLC lifted its holdings in shares of Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock worth $654,000 after buying an additional 28 shares during the period. Lindbrook Capital LLC increased 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. Finally, Alhambra Investment Management LLC grew its holdings in Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company's stock worth $719,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 transaction, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company's stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE:SYK traded down $1.38 during mid-day trading on Thursday, hitting $382.68. The company's stock had a trading volume of 926,986 shares, compared to its average volume of 1,356,702. Stryker Co. has a 1 year low of $314.93 and a 1 year 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. The stock has a market cap of $146.06 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 2.93 and a beta of 0.93. The business's fifty day moving average is $365.90 and its two-hundred day moving average is $374.10.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data 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. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the firm posted $2.50 earnings per share. The company's revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker's dividend payout ratio is presently 45.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Stifel Nicolaus upped their price objective on Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Finally, Citigroup reissued a "buy" rating and set a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $427.05.

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.