Consolidated Investment Group LLC Buys 7,610 Shares of Stryker Corporation (NYSE:SYK)

Consolidated Investment Group LLC boosted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 345.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,810 shares of the medical technology company's stock after purchasing an additional 7,610 shares during the quarter. Consolidated Investment Group LLC's holdings in Stryker were worth $3,652,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SYK. Norges Bank bought a new stake in Stryker during the fourth quarter worth approximately $1,710,744,000. GAMMA Investing LLC boosted its position in Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the period. Raymond James Financial Inc. bought a new stake in Stryker during the fourth quarter worth approximately $353,394,000. FMR LLC lifted its holdings in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after buying an additional 727,850 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after buying an additional 595,061 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup reiterated a "buy" rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. BTIG Research set a $403.00 price target on Stryker and gave the stock a "buy" rating in a report on Monday, April 14th. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Finally, Truist Financial upped 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. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Stock Performance

Shares of NYSE SYK opened at $375.44 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $374.95 and a 200 day simple moving average of $375.20. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The firm has a market capitalization of $143.30 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 2.83 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the prior year, the company posted $2.50 earnings per share. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts expect that Stryker Corporation 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. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.89%. Stryker's dividend 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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