Brookstone Capital Management Trims Holdings in Stryker Co. (NYSE:SYK)

Brookstone Capital Management decreased its stake in shares of Stryker Co. (NYSE:SYK) by 72.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,285 shares of the medical technology company’s stock after selling 5,913 shares during the period. Brookstone Capital Management’s holdings in Stryker were worth $818,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new stake in shares of Stryker in the fourth quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the last quarter. Rogco LP purchased a new position in shares of Stryker during the fourth quarter worth about $30,000. DSM Capital Partners LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $34,000. Finally, HBC Financial Services PLLC purchased a new stake in Stryker in the fourth quarter valued at approximately $37,000. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Needham & Company LLC upgraded Stryker from a “hold” rating to a “buy” rating and set a $392.00 price target on the stock in a research report on Wednesday, May 22nd. Robert W. Baird upped their price objective on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Roth Mkm raised their price objective on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, BTIG Research boosted their target price on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $370.58.

Stryker Stock Performance

Shares of Stryker stock opened at $340.25 on Friday. 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 stock’s fifty day moving average price is $337.38 and its 200-day moving average price is $333.66. The firm has a market cap of $129.62 billion, a P/E ratio of 38.84, a P/E/G ratio of 2.68 and a beta of 0.92. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.14 earnings per share. On average, equities research analysts expect that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

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.