Snider Financial Group Decreases Position in Stryker Co. (NYSE:SYK)

Snider Financial Group lowered its stake in Stryker Co. (NYSE:SYK) by 0.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,984 shares of the medical technology company’s stock after selling 52 shares during the quarter. Stryker comprises 1.4% of Snider Financial Group’s portfolio, making the stock its 19th largest position. Snider Financial Group’s holdings in Stryker were worth $4,461,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SYK. Norges Bank acquired a new stake in shares of Stryker during the fourth quarter valued at about $1,710,744,000. GAMMA Investing LLC grew its stake in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Stryker during the 4th quarter worth approximately $353,394,000. FMR LLC raised its position 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 valued at $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after purchasing an additional 595,061 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 0.0%

NYSE:SYK opened at $382.74 on Friday. The business’s fifty day moving average price is $369.88 and its 200 day moving average price is $376.06. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $146.09 billion, a price-to-earnings ratio of 49.32, a PEG ratio of 2.93 and a beta of 0.93. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

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 analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the business posted $2.50 earnings per share. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s payout ratio is 45.41%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays lifted their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Evercore ISI dropped their target price on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Finally, Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $427.30.

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 shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This 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. 5.90% 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.