Commerce Bank boosted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,249 shares of the medical technology company's stock after acquiring an additional 2,822 shares during the period. Commerce Bank's holdings in Stryker were worth $69,331,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Price T Rowe Associates Inc. MD grew its holdings in Stryker by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after purchasing an additional 54,693 shares during the period. FMR LLC lifted its position in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares during the last quarter. Northern Trust Corp grew its stake in shares of Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after acquiring an additional 420,153 shares during the period. GAMMA Investing LLC increased its holdings in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Stryker by 15.3% in the 4th quarter. Invesco Ltd. now owns 2,007,105 shares of the medical technology company's stock valued at $722,658,000 after acquiring an additional 266,587 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.
Stryker Trading Down 1.8%
NYSE SYK opened at $393.37 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The stock's 50-day simple moving average is $387.43 and its two-hundred day simple moving average is $380.19. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a market capitalization of $150.15 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 2.97 and a beta of 0.91.
Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. Stryker's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $2.81 EPS. Research analysts forecast 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 was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, June 30th. Stryker's payout ratio is presently 45.41%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on SYK shares. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Evercore ISI lifted their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Truist Financial lifted 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. Finally, Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $428.55.
View Our Latest Analysis on Stryker
Insider Buying and Selling at Stryker
In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director owned 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company's stock.
About Stryker
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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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