Parsons Capital Management Inc. RI Has $3.16 Million Stock Position in Stryker Co. (NYSE:SYK)

Parsons Capital Management Inc. RI lowered its position in shares of Stryker Co. (NYSE:SYK) by 13.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,482 shares of the medical technology company’s stock after selling 1,283 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Stryker were worth $3,157,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SYK. Elefante Mark B acquired a new stake in Stryker in the 4th quarter valued at about $337,000. Metis Global Partners LLC increased its position in Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after acquiring an additional 1,561 shares in the last quarter. Fred Alger Management LLC increased its position in Stryker by 415.8% in the 4th quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company’s stock valued at $8,664,000 after acquiring an additional 19,356 shares in the last quarter. US Bancorp DE increased its position in Stryker by 0.5% in the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock valued at $65,829,000 after acquiring an additional 976 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in Stryker by 5.0% in the 4th quarter. Larson Financial Group LLC now owns 10,294 shares of the medical technology company’s stock valued at $3,706,000 after acquiring an additional 492 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Evercore ISI lowered their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. BTIG Research set a $403.00 target price on shares of Stryker and gave the company a “buy” rating in a research note on Monday, April 14th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

Insider Buying and Selling at Stryker

In other 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 value of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $382.25 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The firm’s 50 day moving average price is $370.19 and its two-hundred day moving average price is $375.85. The firm has a market cap of $145.90 billion, a P/E ratio of 49.26, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share 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 firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the firm posted $2.50 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is currently 45.41%.

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.