Cullinan Associates Inc. Has $2.52 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Cullinan Associates Inc. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 64.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,031 shares of the medical technology company’s stock after selling 12,715 shares during the period. Cullinan Associates Inc.’s holdings in Stryker were worth $2,516,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SYK. Burkett Financial Services LLC acquired a new position in Stryker during the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position 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 valued at $27,000 after purchasing an additional 61 shares during the period. Rogco LP bought a new stake in Stryker during the 4th quarter valued at $30,000. DSM Capital Partners LLC bought a new position in shares of Stryker in the fourth quarter valued at $34,000. Finally, HBC Financial Services PLLC acquired a new position in shares of Stryker during the fourth quarter valued at about $37,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. TD Cowen raised their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Piper Sandler raised their price target on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price on the stock in a research report on Wednesday, May 22nd. Finally, BTIG Research increased their price target on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $370.32.

Stryker Stock Down 0.7 %

Shares of NYSE:SYK opened at $334.30 on Wednesday. The firm has a fifty day moving average price of $337.56 and a two-hundred day moving average price of $334.19. The company has a market cap of $127.35 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 2.68 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $2.14 earnings per share. Analysts anticipate that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. Stryker’s dividend payout ratio is presently 36.53%.

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.