Stryker Co. (NYSE:SYK) Holdings Decreased by Blue Zone Wealth Advisors LLC

Blue Zone Wealth Advisors LLC reduced its holdings in shares of Stryker Co. (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 (SEC). The firm owned 20,727 shares of the medical technology company’s stock after selling 1,006 shares during the period. Stryker accounts for about 2.6% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Blue Zone Wealth Advisors LLC’s holdings in Stryker were worth $7,418,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SYK. Carnegie Capital Asset Management LLC grew its position in Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $1,561,000. CoreCap Advisors LLC grew its holdings in shares of Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after buying an additional 191 shares during the last quarter. Consolidated Planning Corp purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $205,000. Finally, Meritage Portfolio Management purchased a new position in Stryker in the 4th quarter worth approximately $569,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank of Canada increased their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Needham & Company LLC raised Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a research report on Wednesday, May 22nd. The Goldman Sachs Group started coverage on shares of Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. BTIG Research raised their price target on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $370.58.

Stryker Price Performance

SYK traded up $0.51 during trading on Friday, hitting $340.25. 1,894,420 shares of the company traded hands, compared to its average volume of 1,082,587. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a market cap of $129.62 billion, a PE ratio of 38.84, a P/E/G ratio of 2.68 and a beta of 0.92. The stock’s 50-day simple moving average is $337.38 and its two-hundred day simple moving average is $333.91. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the company earned $2.14 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

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.