Bruce G. Allen Investments LLC Sells 67 Shares of Stryker Co. (NYSE:SYK)

Bruce G. Allen Investments LLC cut its stake in Stryker Co. (NYSE:SYK) by 19.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283 shares of the medical technology company’s stock after selling 67 shares during the period. Bruce G. Allen Investments LLC’s holdings in Stryker were worth $101,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SYK. Burkett Financial Services LLC bought a new position in shares of Stryker in the fourth quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Rogco LP bought a new position in shares of Stryker in the fourth quarter worth about $30,000. DSM Capital Partners LLC bought a new position in Stryker during the 4th quarter worth about $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker during the 4th quarter worth about $37,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of Stryker stock traded down $7.42 during midday trading on Thursday, hitting $341.25. The company had a trading volume of 1,670,333 shares, compared to its average volume of 1,318,789. The stock has a market cap of $130.00 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 2.75 and a beta of 0.92. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $336.67 and a 200 day simple moving average of $331.29. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $2.14 EPS. As a group, analysts predict that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. UBS Group increased their target price on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup increased their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Robert W. Baird increased their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price on the stock in a report on Wednesday, May 22nd. Finally, Piper Sandler increased their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $370.58.

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.