Stryker Co. (NYSE:SYK) Shares Sold by Reliant Investment Management LLC

Reliant Investment Management LLC decreased its position in Stryker Co. (NYSE:SYK) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,792 shares of the medical technology company’s stock after selling 220 shares during the quarter. Stryker comprises approximately 2.5% of Reliant Investment Management LLC’s holdings, making the stock its 20th largest position. Reliant Investment Management LLC’s holdings in Stryker were worth $5,294,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC bought a new position in shares of Stryker in the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the period. Rogco LP purchased a new position in shares of Stryker during the fourth quarter valued at $30,000. DSM Capital Partners LLC acquired a new stake in Stryker during the 4th quarter worth about $34,000. Finally, HBC Financial Services PLLC acquired a new position in shares of Stryker in the 4th quarter valued at about $37,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYK. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price target on the stock in a research note on Wednesday, May 22nd. Evercore ISI boosted their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada lifted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. BTIG Research increased their target price on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird upped their price target on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $370.58.

Stryker Price Performance

SYK traded up $0.51 during trading on Friday, hitting $340.25. The company’s stock had a trading volume of 1,894,420 shares, compared to its average volume of 1,082,587. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $129.62 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 2.68 and a beta of 0.92. The firm’s 50 day moving average price is $337.38 and its two-hundred day moving average price is $333.39. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. Sell-side analysts forecast that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s dividend payout ratio is currently 36.53%.

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.