Stryker Co. (SYK) Holdings Lifted by Palisade Asset Management LLC

Palisade Asset Management LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 14.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,143 shares of the medical technology company’s stock after purchasing an additional 5,409 shares during the quarter. Stryker makes up about 1.3% of Palisade Asset Management LLC’s investment portfolio, making the stock its 26th largest holding. Palisade Asset Management LLC’s holdings in Stryker were worth $8,522,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Welch Group LLC boosted its holdings in shares of Stryker by 1.5% during the first quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after acquiring an additional 54 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of Stryker by 38.7% during the fourth quarter. Westside Investment Management Inc. now owns 233 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 65 shares during the period. First Hawaiian Bank boosted its holdings in shares of Stryker by 0.5% during the first quarter. First Hawaiian Bank now owns 12,570 shares of the medical technology company’s stock valued at $2,483,000 after acquiring an additional 67 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Stryker by 1.6% during the fourth quarter. DAVENPORT & Co LLC now owns 4,340 shares of the medical technology company’s stock valued at $680,000 after acquiring an additional 70 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in shares of Stryker by 1.6% during the fourth quarter. Wedbush Securities Inc. now owns 4,497 shares of the medical technology company’s stock valued at $705,000 after acquiring an additional 70 shares during the period. 74.68% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE SYK opened at $187.53 on Wednesday. The company has a market capitalization of $70.47 billion, a P/E ratio of 25.65, a PEG ratio of 2.32 and a beta of 0.84. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $199.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.30.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 EPS. As a group, equities analysts forecast that Stryker Co. will post 8.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a yield of 1.11%. Stryker’s payout ratio is currently 28.45%.

Several brokerages have recently issued reports on SYK. ValuEngine raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $209.00 price target for the company in a report on Thursday, April 25th. Oppenheimer upped their price objective on shares of Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Robert W. Baird upped their price objective on shares of Stryker from $201.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Deutsche Bank upped their price objective on shares of Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $196.89.

In other news, VP Michael Damon Hutchinson sold 15,995 shares of the stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $180.49, for a total value of $2,886,937.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bijoy Sagar sold 2,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.43, for a total value of $380,860.00. Following the completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $637,940.50. The disclosure for this sale can be found here. Insiders have sold 124,845 shares of company stock valued at $23,752,941 in the last ninety days. Company insiders own 7.20% of the company’s stock.

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Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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