Eagle Rock Investment Company LLC Sells 33 Shares of Stryker Co. (NYSE:SYK)

Eagle Rock Investment Company LLC decreased its position in Stryker Co. (NYSE:SYK) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,295 shares of the medical technology company’s stock after selling 33 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Stryker were worth $1,599,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in Stryker during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in Stryker during the fourth quarter valued at about $26,000. Rakuten Securities Inc. grew its position in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares during the period. Centricity Wealth Management LLC bought a new position in Stryker during the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department bought a new position in Stryker during the fourth quarter valued at about $33,000. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SYK has been the subject of several research reports. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Barclays increased their price target on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Finally, Truist Financial upped their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $427.30.

Stryker Price Performance

SYK stock opened at $384.15 on Friday. The firm has a 50 day moving average of $370.10 and a 200-day moving average of $376.03. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market capitalization of $146.63 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating 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 company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the business earned $2.50 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker’s payout ratio is presently 45.41%.

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.