Bridgewater Advisors Inc. Buys New Position in Stryker Corporation (NYSE:SYK)

Bridgewater Advisors Inc. bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,838 shares of the medical technology company's stock, valued at approximately $682,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the first quarter valued at $32,000. City Holding Co. raised its stake 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 valued at $33,000 after purchasing an additional 74 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Stryker in the fourth quarter valued at $36,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker in the first quarter valued at $40,000. Institutional investors own 77.09% of the company's stock.

Insider Activity at Stryker

In other 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 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 document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SYK has been the subject of a number of recent research reports. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Citigroup restated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Roth Mkm upped their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Truist Financial upped their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $428.55.

Stryker Trading Up 0.3%

Stryker stock traded up $1.30 during mid-day trading on Friday, hitting $390.20. The stock had a trading volume of 243,720 shares, compared to its average volume of 1,348,272. The stock has a 50-day simple moving average of $385.51 and a two-hundred day simple moving average of $377.73. The stock has a market capitalization of $148.94 billion, a PE ratio of 52.80, a P/E/G ratio of 2.95 and a beta of 0.91. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly 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 business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter last year, the business earned $2.50 earnings per share. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

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.