Stryker Corporation (NYSE:SYK) Shares Acquired by Marco Investment Management LLC

Key Points

• Marco Investment Management LLC increased its stake in Stryker Corporation by 1.9%, now holding 55,600 shares valued at approximately $20.7 million.
• Significant buy ratings and price target increases have been issued by analysts for Stryker, with targets now ranging from $400 to $456.
• Stryker Corporation reported a quarterly revenue of $5.87 billion, exceeding expectations, and announced a quarterly dividend of $0.84 per share.

Marco Investment Management LLC increased its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,600 shares of the medical technology company's stock after buying an additional 1,048 shares during the quarter. Stryker comprises approximately 1.9% of Marco Investment Management LLC's investment portfolio, making the stock its 15th largest holding. Marco Investment Management LLC's holdings in Stryker were worth $20,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Continuum Advisory LLC increased its stake in Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after buying an additional 29 shares during the period. Oakworth Capital Inc. boosted its position in shares of Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares in the last quarter. Rinkey Investments boosted its position in shares of Stryker by 1.1% during the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after purchasing an additional 30 shares in the last quarter. Tritonpoint Wealth LLC boosted its position in shares of Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 30 shares in the last quarter. Finally, Cornerstone Advisory LLC boosted its position in shares of Stryker by 0.6% during the 4th quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company's stock worth $2,024,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is owned by company insiders.

Stryker Trading Down 0.1%

Shares of SYK stock traded down $0.30 during trading hours on Tuesday, hitting $400.39. 970,464 shares of the company were exchanged, compared to its average volume of 1,080,045. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a fifty day moving average of $386.71 and a 200 day moving average of $379.82. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm has a market cap of $152.82 billion, a PE ratio of 54.11, a PEG ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the firm posted $2.50 earnings per share. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Truist Financial boosted their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

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.