Stryker Co. (NYSE:SYK) Holdings Decreased by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its stake in shares of Stryker Co. (NYSE:SYK) by 64.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 7,031 shares of the medical technology company’s stock after selling 12,715 shares during the period. Cullinan Associates Inc.’s holdings in Stryker were worth $2,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Logan Capital Management Inc. boosted its stake in shares of Stryker by 19.6% during the 3rd quarter. Logan Capital Management Inc. now owns 3,064 shares of the medical technology company’s stock worth $837,000 after acquiring an additional 503 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Stryker in the 3rd quarter valued at $1,467,000. Truist Financial Corp increased its stake in Stryker by 16.3% in the 3rd quarter. Truist Financial Corp now owns 132,369 shares of the medical technology company’s stock worth $36,172,000 after purchasing an additional 18,598 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Stryker by 17.5% during the third quarter. Advisors Asset Management Inc. now owns 20,107 shares of the medical technology company’s stock valued at $5,495,000 after buying an additional 2,998 shares in the last quarter. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Stryker in the third quarter worth about $340,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of SYK opened at $334.30 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The company’s fifty day moving average price is $337.56 and its 200 day moving average price is $334.19. The company has a market capitalization of $127.35 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Stifel Nicolaus lifted their price target on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. TD Cowen increased their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Evercore ISI lowered their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Piper Sandler increased their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.32.

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.