Alpine Bank Wealth Management Invests $1.23 Million in Stryker Corporation (NYSE:SYK)

Alpine Bank Wealth Management acquired a new position in Stryker Corporation (NYSE:SYK) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,300 shares of the medical technology company’s stock, valued at approximately $1,228,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Stryker in the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter worth $26,000. Rakuten Securities Inc. grew its stake in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares in the last quarter. BankPlus Trust Department purchased a new position in Stryker during the fourth quarter valued at $33,000. Finally, City Holding Co. grew its stake in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SYK shares. BTIG Research set a $403.00 target price on shares of Stryker and gave the company a “buy” rating in a research note on Monday, April 14th. Citigroup reaffirmed a “buy” rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, Evercore ISI cut their target price on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $427.30.

Stryker Price Performance

Stryker stock opened at $386.80 on Wednesday. The firm has a 50-day moving average price of $376.26 and a 200-day moving average price of $375.19. The firm has a market capitalization of $147.64 billion, a PE ratio of 52.27, a price-to-earnings-growth ratio of 2.86 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 12-month low of $314.93 and a 12-month 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 (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $2.50 EPS. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company 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 $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. 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.