Horizon Financial Services LLC Raises Stock Position in Stryker Corporation (NYSE:SYK)

Horizon Financial Services LLC raised its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 38,614.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,357 shares of the medical technology company's stock after purchasing an additional 19,307 shares during the period. Horizon Financial Services LLC's holdings in Stryker were worth $7,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker in the 4th quarter worth $25,000. Capital A Wealth Management LLC purchased a new position in Stryker in the fourth quarter worth about $26,000. Rakuten Securities Inc. increased its stake in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in Stryker during the first quarter valued at approximately $32,000. Finally, City Holding Co. raised its position in Stryker by 528.6% during 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 during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is currently owned by company insiders.

Stryker Stock Down 1.2%

Shares of SYK traded down $4.76 during mid-day trading on Wednesday, hitting $391.98. The company's stock had a trading volume of 1,134,095 shares, compared to its average volume of 1,344,817. 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 company's 50-day moving average is $381.08 and its 200-day moving average is $375.74. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The firm has a market capitalization of $149.61 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 2.98 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released 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 company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business earned $2.50 EPS. On average, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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 given a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker's dividend payout ratio is presently 45.41%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BTIG Research set a $403.00 target price on Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Truist Financial boosted their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $427.30.

About Stryker

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.