Alpine Bank Wealth Management Purchases Shares of 3,300 Stryker Corporation (NYSE:SYK)

Alpine Bank Wealth Management purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,300 shares of the medical technology company's stock, valued at approximately $1,228,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after acquiring an additional 609 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Stryker by 2.9% in the fourth quarter. First Horizon Advisors Inc. now owns 2,146 shares of the medical technology company's stock valued at $773,000 after buying an additional 61 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Stryker during the fourth quarter worth $1,704,000. IFP Advisors Inc increased its holdings in shares of Stryker by 43.7% during the fourth quarter. IFP Advisors Inc now owns 2,239 shares of the medical technology company's stock worth $808,000 after buying an additional 681 shares in the last quarter. Finally, Edge Capital Group LLC lifted its stake in shares of Stryker by 7.1% in the 4th quarter. Edge Capital Group LLC now owns 1,144 shares of the medical technology company's stock valued at $412,000 after acquiring an additional 76 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Tuesday, May 6th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Truist Financial boosted their price target on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note 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. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Stock Up 1.5%

Shares of Stryker stock traded up $5.90 during trading on Wednesday, reaching $392.36. 1,915,995 shares of the company traded hands, compared to its average volume of 1,337,858. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The firm has a market capitalization of $149.76 billion, a PE ratio of 53.02, a P/E/G ratio of 2.86 and a beta of 0.91. The company has a 50 day moving average price of $376.26 and a 200-day moving average price of $375.19. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 earnings per share. As a group, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker's dividend payout ratio is 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.