Fifth Third Wealth Advisors LLC Has $1.93 Million Position in Stryker Co. (NYSE:SYK)

Fifth Third Wealth Advisors LLC increased its position in Stryker Co. (NYSE:SYK - Free Report) by 23.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,190 shares of the medical technology company's stock after purchasing an additional 986 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Stryker were worth $1,932,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Stryker in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new position in Stryker in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its stake in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new position in Stryker in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department acquired a new position in Stryker in the fourth quarter valued at approximately $33,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. BTIG Research set a $403.00 price objective on Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Truist Financial boosted their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Finally, Barclays boosted their price objective on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Stock Up 0.0%

NYSE:SYK traded up $0.19 during trading hours on Thursday, reaching $382.74. The company's stock had a trading volume of 904,802 shares, compared to its average volume of 1,332,628. The company has a market cap of $146.09 billion, a price-to-earnings ratio of 49.32, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The business's 50-day moving average is $369.88 and its 200-day moving average is $376.06. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (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 net margin of 13.25% and a return on equity of 23.58%. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 earnings per share. Equities research analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 completion of the transaction, the director now owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

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.