M1 Capital Management LLC Acquires New Shares in Stryker Co. (NYSE:SYK)

M1 Capital Management LLC purchased a new position in shares of Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 686 shares of the medical technology company's stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker in the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new position in Stryker in the 4th quarter valued at about $26,000. Rakuten Securities Inc. increased its holdings in shares of 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 purchasing an additional 68 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Stryker during the fourth quarter worth approximately $30,000. Finally, BankPlus Trust Department bought a new position in Stryker in the fourth quarter valued at approximately $33,000. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on SYK shares. JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Citigroup reiterated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Evercore ISI lowered their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Truist Financial upped their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $427.30.

Insider Activity at Stryker

In other 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 sale, the director now directly owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is owned by insiders.

Stryker Price Performance

SYK stock traded up $0.51 during trading on Friday, hitting $382.86. The company had a trading volume of 1,993,145 shares, compared to its average volume of 1,342,850. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $146.13 billion, a price-to-earnings ratio of 49.34, a P/E/G ratio of 2.93 and a beta of 0.93. The business has a 50 day moving average of $368.57 and a 200 day moving average of $376.25.

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 for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 earnings per share. As a group, research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker's payout ratio is currently 45.41%.

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.