Allworth Financial LP grew its stake in Stryker Corporation (NYSE:SYK - Free Report) by 0.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,369 shares of the medical technology company's stock after purchasing an additional 744 shares during the quarter. Allworth Financial LP's holdings in Stryker were worth $30,461,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new position in Stryker during the 4th quarter valued at about $26,000. Rakuten Securities Inc. lifted its stake in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after acquiring an additional 68 shares during the period. Goodman Advisory Group LLC bought a new position in Stryker during the 1st quarter valued at about $32,000. City Holding Co. grew its holdings in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Stryker in the fourth quarter worth $36,000. 77.09% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have weighed in on SYK shares. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Finally, BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $428.55.
Check Out Our Latest Stock Analysis on SYK
Insider Buying and Selling
In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated 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 directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is currently owned by company insiders.
Stryker Stock Performance
Shares of NYSE SYK traded down $5.06 during mid-day trading on Friday, hitting $389.71. The stock had a trading volume of 390,104 shares, compared to its average volume of 1,348,838. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The company has a 50 day moving average of $384.57 and a two-hundred day moving average of $376.97. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The firm has a market cap of $148.75 billion, a PE ratio of 52.66, a PEG ratio of 2.96 and a beta of 0.91.
Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the firm earned $2.50 EPS. The firm's revenue was up 11.9% on a year-over-year basis. Research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.
Stryker Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.
About Stryker
(
Free Report)
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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