Raleigh Capital Management Inc. Has $51,000 Stock Holdings in Stryker Corporation (NYSE:SYK)

Raleigh Capital Management Inc. decreased its holdings in Stryker Corporation (NYSE:SYK) by 59.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 137 shares of the medical technology company’s stock after selling 204 shares during the period. Raleigh Capital Management Inc.’s holdings in Stryker were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after purchasing an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Stryker by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock worth $4,000,056,000 after purchasing an additional 54,693 shares during the last quarter. FMR LLC grew its holdings in shares of Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Stryker by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after purchasing an additional 168,436 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Stryker in the 4th quarter worth about $1,710,744,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $389.65 on Wednesday. The company has a market capitalization of $148.73 billion, a price-to-earnings ratio of 52.66, a P/E/G ratio of 2.96 and a beta of 0.91. The firm’s 50 day simple moving average is $383.81 and its 200 day simple moving average is $376.67. 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 fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating 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 net margin of 12.31% and a return on equity of 23.74%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company posted $2.50 EPS. As a group, sell-side analysts forecast 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. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s dividend payout ratio (DPR) is currently 45.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Monday, May 5th. BTIG Research set a $403.00 price objective on shares of Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Finally, Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $428.55.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.20% 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.