Pointe Capital Management LLC bought a new stake in shares of Stryker Corporation (NYSE:SYK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,060 shares of the medical technology company’s stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SYK. Bollard Group LLC increased its position in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the period. Baystate Wealth Management LLC increased its position in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the period. Guardian Life Insurance Co. of America increased its position in shares of Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares during the period. Assetmark Inc. increased its position in shares of Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares during the period. Finally, Daiwa SB Investments Ltd. purchased a new position in shares of Stryker Corporation during the first quarter valued at $170,000. Institutional investors and hedge funds own 73.99% of the company’s stock.

Stryker Corporation (SYK) traded up 0.19% during mid-day trading on Friday, hitting $144.18. 847,631 shares of the company were exchanged. The company has a market cap of $53.93 billion, a price-to-earnings ratio of 32.18 and a beta of 0.80. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84. The stock’s 50 day moving average is $143.71 and its 200-day moving average is $135.51.

Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Stryker Corporation will post $6.50 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.18%. Stryker Corporation’s payout ratio is presently 37.95%.

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SYK has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $148.00 target price (up from $135.00) on shares of Stryker Corporation in a research note on Saturday, April 29th. BidaskClub downgraded shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Monday, July 17th. Stifel Nicolaus upped their target price on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Cowen and Company restated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $144.03.

In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,810 shares of company stock valued at $4,754,958. Company insiders own 7.40% of the company’s stock.

About Stryker Corporation

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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Institutional Ownership by Quarter for Stryker Corporation (NYSE:SYK)

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