Stryker Co. (NYSE:SYK) Shares Sold by Axecap Investments LLC

Axecap Investments LLC reduced its holdings in Stryker Co. (NYSE:SYK) by 11.1% during the 1st quarter, Holdings Channel reports. The firm owned 539 shares of the medical technology company’s stock after selling 67 shares during the quarter. Axecap Investments LLC’s holdings in Stryker were worth $201,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter worth approximately $26,000. Rakuten Securities Inc. boosted its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter worth approximately $30,000. Finally, BankPlus Trust Department acquired a new stake in shares of Stryker in the fourth quarter worth approximately $33,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of Stryker stock opened at $381.03 on Thursday. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The business’s fifty day simple moving average is $371.23 and its 200-day simple moving average is $375.95. The firm has a market cap of $145.43 billion, a PE ratio of 49.10, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) 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. The firm 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 company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 EPS. Equities analysts forecast that Stryker Co. will post 13.47 earnings per share 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 $0.84 dividend. 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 presently 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research analyst reports. BTIG Research set a $403.00 price target on Stryker and gave the stock a “buy” rating in a research note on Monday, April 14th. Evercore ISI lowered their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Truist Financial lifted their price objective on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Finally, Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $427.30.

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.