Axecap Investments LLC Decreases Stock Position in Stryker Co. (NYSE:SYK)

Axecap Investments LLC lessened its stake in shares of Stryker Co. (NYSE:SYK) by 11.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 539 shares of the medical technology company’s stock after selling 67 shares during the period. Axecap Investments LLC’s holdings in Stryker were worth $201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYK. Elefante Mark B purchased a new stake in Stryker in the fourth quarter worth $337,000. Metis Global Partners LLC increased its stake in Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after purchasing an additional 1,561 shares during the period. Fred Alger Management LLC increased its stake in Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company’s stock worth $8,664,000 after purchasing an additional 19,356 shares during the period. US Bancorp DE increased its stake in Stryker by 0.5% in the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock worth $65,829,000 after purchasing an additional 976 shares during the period. Finally, Larson Financial Group LLC increased its stake in Stryker by 5.0% in the fourth quarter. Larson Financial Group LLC now owns 10,294 shares of the medical technology company’s stock worth $3,706,000 after purchasing an additional 492 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 1.0%

Shares of NYSE:SYK opened at $381.03 on Thursday. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a market cap of $145.43 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 2.93 and a beta of 0.91. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $371.23 and a 200-day moving average price of $375.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same period last year, the business posted $2.50 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on SYK shares. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday, June 6th. Truist Financial increased their price target on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Evercore ISI dropped their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $427.30.

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.