Core Alternative Capital Has $78,000 Holdings in Stryker Corporation (NYSE:SYK)

Core Alternative Capital trimmed its position in Stryker Corporation (NYSE:SYK) by 28.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 210 shares of the medical technology company’s stock after selling 83 shares during the period. Core Alternative Capital’s holdings in Stryker were worth $78,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in Stryker in the fourth quarter valued at about $26,000. Rakuten Securities Inc. increased its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares during the period. Goodman Advisory Group LLC bought a new position in Stryker in the 1st quarter valued at approximately $32,000. City Holding Co. boosted its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC bought a new stake in Stryker during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director owned 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $392.00 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a fifty day moving average of $382.92 and a 200-day moving average of $376.25. The firm has a market capitalization of $149.62 billion, a P/E ratio of 52.97, a P/E/G ratio of 2.98 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same period last year, the company posted $2.50 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Evercore ISI cut their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Truist Financial raised their price objective on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Finally, BTIG Research set a $403.00 target price on Stryker and gave the company a “buy” rating in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $427.30.

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.