Peddock Capital Advisors LLC Sells 216 Shares of Stryker Corporation (NYSE:SYK)

Peddock Capital Advisors LLC lessened its position in shares of Stryker Corporation (NYSE:SYK) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,510 shares of the medical technology company’s stock after selling 216 shares during the period. Peddock Capital Advisors LLC’s holdings in Stryker were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Capital A Wealth Management LLC bought a new stake in shares of Stryker during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its stake in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Goodman Advisory Group LLC bought a new position in Stryker in the 1st quarter valued at approximately $32,000. City Holding Co. lifted its stake in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in Stryker in the 4th quarter valued at approximately $36,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.7%

NYSE:SYK opened at $392.05 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $149.64 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 2.94 and a beta of 0.91. The firm has a fifty day simple moving average of $384.17 and a two-hundred day simple moving average of $376.78. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $2.50 earnings per share. Analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is currently 45.41%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 3,417,326 shares of the company’s stock, 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 this link. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SYK shares. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a “buy” rating in a research note on Monday, April 14th. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Citigroup restated a “buy” rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $428.55.

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.