Dynamic Advisor Solutions LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK – Free Report) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 6,388 shares of the medical technology company’s stock, valued at approximately $2,378,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker during the fourth quarter valued at $25,000. Capital A Wealth Management LLC bought a new position in shares of Stryker during the fourth quarter valued at $26,000. Rakuten Securities Inc. boosted its position in shares of Stryker by 618.2% during 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 last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter valued at $30,000. Finally, City Holding Co. boosted its position in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Finally, Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $427.30.
Insider Activity at Stryker
In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now owns 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is owned by corporate insiders.
Stryker Stock Down 0.1%
SYK stock opened at $377.05 on Tuesday. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market cap of $143.91 billion, a P/E ratio of 48.59, a PEG ratio of 2.93 and a beta of 0.91. The business’s 50-day moving average price is $373.53 and its 200-day moving average price is $375.55.
Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same period in the previous year, the firm earned $2.50 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that Stryker Co. will post 13.47 EPS for the current year.
Stryker Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s payout ratio is currently 45.41%.
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.
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