Stryker Corporation (NYSE:SYK) Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 3.2% during the first quarter, Holdings Channel reports. The fund owned 4,209 shares of the medical technology company’s stock after purchasing an additional 131 shares during the quarter. Perigon Wealth Management LLC’s holdings in Stryker were worth $1,567,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Elefante Mark B acquired a new stake in shares of Stryker during the fourth quarter valued at $337,000. Mogy Joel R Investment Counsel Inc. boosted its stake in shares of Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock valued at $36,561,000 after acquiring an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock valued at $65,096,000 after acquiring an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Stryker during the first quarter valued at $1,840,000. Finally, Metis Global Partners LLC boosted 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 valued at $6,064,000 after acquiring an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $393.70 on Friday. The stock’s 50-day moving average is $379.01 and its 200-day moving average is $375.45. The company has a market cap of $150.27 billion, a price-to-earnings ratio of 53.20, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The company 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 23.74% and a net margin of 12.31%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $2.50 EPS. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Stryker’s dividend payout ratio (DPR) is currently 45.41%.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SYK. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. BTIG Research set a $403.00 target price on Stryker and gave the stock a “buy” rating in a research report on Monday, April 14th. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

Stryker 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.