Cranbrook Wealth Management LLC Lowers Position in Stryker Co. (NYSE:SYK)

Cranbrook Wealth Management LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,841 shares of the medical technology company’s stock after selling 134 shares during the period. Cranbrook Wealth Management LLC’s holdings in Stryker were worth $1,802,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new stake in Stryker in the 4th quarter valued at about $26,000. Rakuten Securities Inc. raised its position in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker in the 4th quarter valued at about $30,000. Finally, BankPlus Trust Department acquired a new stake in Stryker in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYK. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup restated a “buy” rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Barclays raised their price target on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Five 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 has an average rating of “Moderate Buy” and a consensus price target of $427.30.

Stryker Price Performance

NYSE SYK opened at $384.15 on Friday. 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’s 50-day moving average is $370.10 and its two-hundred day moving average is $376.03. The firm has a market cap of $146.63 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $2.50 earnings per share. On average, analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm 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. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.90% of the company’s stock.

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.