Stryker Corporation (NYSE:SYK) Stock Position Decreased by Main Street Research LLC

Main Street Research LLC lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 4.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,952 shares of the medical technology company’s stock after selling 94 shares during the quarter. Main Street Research LLC’s holdings in Stryker were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Capital A Wealth Management LLC acquired a new position in shares of Stryker in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. boosted its stake in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the period. Goodman Advisory Group LLC acquired a new stake in shares of Stryker during the 1st quarter valued at $32,000. City Holding Co. boosted its stake in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after buying an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Stryker during the 4th quarter valued at $36,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SYK shares. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Truist Financial lifted their target price on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Citigroup restated a “buy” rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Finally, Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $428.55.

Stryker Stock Down 0.3%

Shares of NYSE:SYK traded down $1.01 on Wednesday, hitting $388.49. 92,194 shares of the company’s stock were exchanged, compared to its average volume of 1,345,626. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The firm’s 50-day moving average is $383.81 and its 200 day moving average is $376.67. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The company has a market capitalization of $148.28 billion, a PE ratio of 52.50, a P/E/G ratio of 2.96 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the business posted $2.50 EPS. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio is currently 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.