Legacy Wealth Asset Management LLC Has $936,000 Stock Position in Stryker Co. (NYSE:SYK)

Legacy Wealth Asset Management LLC reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 1.4% in the first quarter, Holdings Channel reports. The institutional investor owned 2,515 shares of the medical technology company’s stock after selling 35 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Stryker were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Stryker by 1.5% during the first quarter. Rhumbline Advisers now owns 662,188 shares of the medical technology company’s stock valued at $246,499,000 after buying an additional 9,578 shares during the last quarter. Abner Herrman & Brock LLC grew its holdings in shares of Stryker by 2.0% during the first quarter. Abner Herrman & Brock LLC now owns 32,514 shares of the medical technology company’s stock valued at $12,103,000 after buying an additional 634 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Stryker by 23.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 5,190 shares of the medical technology company’s stock worth $1,932,000 after purchasing an additional 986 shares during the last quarter. IVC Wealth Advisors LLC boosted its holdings in Stryker by 12.2% during the first quarter. IVC Wealth Advisors LLC now owns 1,408 shares of the medical technology company’s stock worth $524,000 after purchasing an additional 153 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its holdings in Stryker by 0.6% during the first quarter. Beese Fulmer Investment Management Inc. now owns 42,663 shares of the medical technology company’s stock worth $15,881,000 after purchasing an additional 246 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Argus set a $450.00 price target on shares of Stryker in a report on Monday, February 3rd. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Evercore ISI cut their price target on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Roth Mkm boosted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $427.30.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the 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 sale, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.20% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $382.86 on Friday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $368.77 and its 200 day simple moving average is $376.14. The company has a market cap of $146.13 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is currently 45.41%.

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.