Breakwater Capital Group Sells 57 Shares of Stryker Co. (NYSE:SYK)

Breakwater Capital Group reduced its stake in shares of Stryker Co. (NYSE:SYK) by 3.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,677 shares of the medical technology company’s stock after selling 57 shares during the period. Breakwater Capital Group’s holdings in Stryker were worth $600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Burkett Financial Services LLC bought a new position in Stryker in the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the period. Rogco LP bought a new position in Stryker in the 4th quarter worth approximately $30,000. DSM Capital Partners LLC bought a new position in Stryker in the 4th quarter worth approximately $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker in the 4th quarter worth approximately $37,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Stryker stock opened at $340.25 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $129.62 billion, a PE ratio of 38.84, a P/E/G ratio of 2.68 and a beta of 0.89. The firm has a fifty day simple moving average of $337.38 and a two-hundred day simple moving average of $333.91. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the previous year, the company earned $2.14 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Research analysts expect that Stryker Co. will post 11.95 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given 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 of this dividend is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Stifel Nicolaus increased their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price on the stock in a research note on Wednesday, May 22nd. Barclays increased their target price on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, UBS Group increased their target price on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $370.58.

Stryker Company 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.