Eagle Rock Investment Company LLC Decreases Holdings in Stryker Co. (NYSE:SYK)

Eagle Rock Investment Company LLC cut its holdings in shares of Stryker Co. (NYSE:SYK) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,295 shares of the medical technology company’s stock after selling 33 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Stryker were worth $1,599,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Elefante Mark B purchased a new position in shares of Stryker during the fourth quarter worth approximately $337,000. Appleton Partners Inc. MA raised its stake in shares of Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after acquiring an additional 1,400 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after acquiring an additional 1,561 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Stryker by 415.8% during the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company’s stock worth $8,664,000 after acquiring an additional 19,356 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Stryker by 0.5% in the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock worth $65,829,000 after buying an additional 976 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research note on Tuesday, March 4th. Citigroup reaffirmed a “buy” rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Truist Financial lifted their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BTIG Research set a $403.00 target price on shares of Stryker and gave the stock a “buy” rating in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’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 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $384.15 on Friday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a market cap of $146.63 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. 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 company’s fifty day moving average price is $370.10 and its 200-day moving average price is $376.03.

Stryker (NYSE:SYK) last announced its 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 net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is presently 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.