Curbstone Financial Management Corp Sells 50 Shares of Stryker Co. (NYSE:SYK)

Curbstone Financial Management Corp lowered its holdings in shares of Stryker Co. (NYSE:SYK) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,074 shares of the medical technology company’s stock after selling 50 shares during the period. Curbstone Financial Management Corp’s holdings in Stryker were worth $772,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Elefante Mark B bought a new stake in shares of Stryker during the fourth quarter worth approximately $337,000. Metis Global Partners LLC boosted its holdings in shares of Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after acquiring an additional 1,561 shares during the period. Fred Alger Management LLC boosted its holdings in shares of Stryker by 415.8% during the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company’s stock worth $8,664,000 after acquiring an additional 19,356 shares during the period. US Bancorp DE boosted its holdings in shares of Stryker by 0.5% during the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock worth $65,829,000 after acquiring an additional 976 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Stryker by 5.0% during the fourth quarter. Larson Financial Group LLC now owns 10,294 shares of the medical technology company’s stock worth $3,706,000 after acquiring an additional 492 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYK. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Evercore ISI cut their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Truist Financial boosted their price target on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $427.30.

Stryker Stock Up 0.8%

Shares of SYK opened at $385.21 on Wednesday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a market cap of $147.03 billion, a P/E ratio of 49.64, a P/E/G ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a 50 day simple moving average of $370.53 and a two-hundred day simple moving average of $375.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share. Research 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. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s 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 completion of the transaction, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

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.