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

Consolidated Investment Group LLC raised its stake in Stryker Corporation (NYSE:SYK - Free Report) by 345.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Elefante Mark B bought a new position in shares of Stryker during the fourth quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. grew its stake in Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after purchasing an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. grew its stake in Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after purchasing an additional 3,341 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Stryker in the first quarter worth $1,840,000. Finally, Metis Global Partners LLC grew its stake in shares of Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after acquiring an additional 1,561 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Trading Up 1.5%

Shares of Stryker stock traded up $5.90 on Wednesday, reaching $392.36. The company had a trading volume of 1,915,995 shares, compared to its average volume of 1,339,640. The firm has a market cap of $149.76 billion, a price-to-earnings ratio of 53.02, a P/E/G ratio of 2.91 and a beta of 0.91. 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's 50-day moving average price is $376.26 and its two-hundred day moving average price is $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 earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 EPS. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent research reports. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. Evercore ISI lowered their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Citigroup reaffirmed 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. Truist Financial upped their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $427.30.

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.