Stryker Corporation (NYSE:SYK) Holdings Trimmed by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC decreased its stake in Stryker Corporation (NYSE:SYK) by 1.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 82,008 shares of the medical technology company’s stock after selling 1,343 shares during the quarter. Stryker accounts for about 1.1% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 23rd largest holding. Clifford Swan Investment Counsel LLC’s holdings in Stryker were worth $30,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. HighPoint Advisor Group LLC lifted its stake in Stryker by 6.5% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,638 shares of the medical technology company’s stock worth $1,720,000 after acquiring an additional 282 shares in the last quarter. Peregrine Asset Advisers Inc. bought a new position in shares of Stryker in the 1st quarter valued at approximately $205,000. Peterson Wealth Services increased its stake in shares of Stryker by 3.3% in the first quarter. Peterson Wealth Services now owns 13,249 shares of the medical technology company’s stock worth $4,932,000 after purchasing an additional 421 shares during the period. Midwest Capital Advisors LLC acquired a new position in shares of Stryker during the first quarter worth approximately $392,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of Stryker by 4.7% during the first quarter. Lindbrook Capital LLC now owns 1,473 shares of the medical technology company’s stock worth $548,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.2%

Stryker stock traded up $0.84 during midday trading on Monday, reaching $390.24. The stock had a trading volume of 31,614 shares, compared to its average volume of 1,346,321. The firm’s fifty day simple moving average is $385.67 and its 200-day simple moving average is $378.19. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The stock has a market capitalization of $148.95 billion, a P/E ratio of 52.57, 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 quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 EPS. As a group, analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is 45.41%.

Analyst Ratings Changes

SYK has been the topic of a number of research reports. Citigroup restated a “buy” rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Roth Mkm upped their price target on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Friday. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $428.55.

Insider Buying and Selling

In other 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 sale, the director directly owned 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

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.