Canopy Partners LLC Purchases 357 Shares of Stryker Corporation (NYSE:SYK)

Canopy Partners LLC raised its position in Stryker Corporation (NYSE:SYK) by 33.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,437 shares of the medical technology company’s stock after purchasing an additional 357 shares during the period. Canopy Partners LLC’s holdings in Stryker were worth $535,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in Stryker during the fourth quarter worth about $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter worth about $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker in the first quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Stryker in the 4th quarter worth approximately $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Down 0.8%

Shares of NYSE SYK opened at $400.43 on Tuesday. The firm has a fifty day simple moving average of $386.49 and a two-hundred day simple moving average of $379.68. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $152.84 billion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during 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 was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 earnings per share. Equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given 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 dividend yield of 0.84%. Stryker’s dividend payout ratio is presently 45.41%.

Analyst Upgrades and Downgrades

SYK has been the topic of several research reports. BTIG Research restated a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Roth Mkm raised their price objective on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $428.55.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.20% of the stock is currently owned by insiders.

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.