Stryker Co. (NYSE:SYK) Shares Purchased by Jackson Square Capital LLC

Jackson Square Capital LLC boosted its position in Stryker Co. (NYSE:SYK) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,131 shares of the medical technology company’s stock after purchasing an additional 167 shares during the quarter. Stryker comprises approximately 1.0% of Jackson Square Capital LLC’s investment portfolio, making the stock its 27th largest position. Jackson Square Capital LLC’s holdings in Stryker were worth $3,027,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SYK. Capital & Planning LLC raised its stake in Stryker by 3.6% in the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after acquiring an additional 609 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Stryker by 17.5% in the 4th quarter. Empowered Funds LLC now owns 7,644 shares of the medical technology company’s stock worth $2,752,000 after acquiring an additional 1,140 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Stryker in the 4th quarter worth $236,000. Finally, Certuity LLC acquired a new stake in shares of Stryker in the 4th quarter worth $280,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore ISI cut their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research note 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. Finally, The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $427.30.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $377.01 on Friday. The company has a market cap of $143.90 billion, a P/E ratio of 48.58, 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 stock has a 50-day moving average of $372.73 and a two-hundred day moving average of $375.83. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

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, beating the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. As a group, analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, June 30th. 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.