Terra Nova Asset Management LLC Grows Stock Holdings in Stryker Corporation (NYSE:SYK)

Terra Nova Asset Management LLC lifted its position in Stryker Corporation (NYSE:SYK) by 0.7% in the first quarter, Holdings Channel.com reports. The firm owned 8,399 shares of the medical technology company’s stock after purchasing an additional 55 shares during the quarter. Stryker makes up 2.5% of Terra Nova Asset Management LLC’s holdings, making the stock its 12th biggest holding. Terra Nova Asset Management LLC’s holdings in Stryker were worth $3,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker during the 4th quarter valued at $25,000. Capital A Wealth Management LLC purchased a new stake in Stryker during the fourth quarter valued at about $26,000. Rakuten Securities Inc. grew its stake in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares during the last quarter. BankPlus Trust Department purchased a new position in shares of Stryker in the fourth quarter worth about $33,000. Finally, City Holding Co. increased its holdings in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYK has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Friday, March 21st. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a report on Tuesday, March 4th. Citigroup reissued a “buy” rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Roth Mkm boosted their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Insider Activity at Stryker

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

Stryker Stock Up 1.5%

SYK stock opened at $392.36 on Thursday. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a market capitalization of $149.76 billion, a price-to-earnings ratio of 53.02, a price-to-earnings-growth ratio of 2.91 and a beta of 0.91. The business’s 50 day moving average price is $377.18 and its two-hundred day moving average price is $375.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. As a group, analysts forecast that Stryker Corporation 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. Investors of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s payout ratio is 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.