QRG Capital Management Inc. Trims Stock Holdings in Stryker Co. (NYSE:SYK)

QRG Capital Management Inc. cut its holdings in shares of Stryker Co. (NYSE:SYK) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,302 shares of the medical technology company’s stock after selling 1,949 shares during the quarter. QRG Capital Management Inc.’s holdings in Stryker were worth $35,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker during the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in Stryker during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its holdings in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Stryker during the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department bought a new position in Stryker during the 4th quarter worth approximately $33,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYK shares. Evercore ISI reduced their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Citigroup reissued a “buy” rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group set a $422.00 price target on Stryker in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $427.30.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction 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 sale, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of NYSE SYK opened at $377.01 on Monday. 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 stock has a market capitalization of $143.90 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.91. The stock’s fifty day simple moving average is $372.73 and its 200 day simple moving average is $375.66. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. As a group, sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm 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 of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio is 45.41%.

Stryker 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.