Miracle Mile Advisors LLC Has $2.82 Million Holdings in Stryker Co. (NYSE:SYK)

Miracle Mile Advisors LLC increased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,569 shares of the medical technology company's stock after acquiring an additional 870 shares during the period. Miracle Mile Advisors LLC's holdings in Stryker were worth $2,818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Capital & Planning LLC raised its holdings in shares of Stryker by 3.6% in the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock worth $304,000 after acquiring an additional 29 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after acquiring an additional 609 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in shares of Stryker by 47.1% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 925 shares of the medical technology company's stock worth $334,000 after acquiring an additional 296 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter worth about $72,000. Finally, Conning Inc. raised its holdings in shares of Stryker by 5.1% in the 4th quarter. Conning Inc. now owns 2,520 shares of the medical technology company's stock worth $907,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Up 0.3%

SYK opened at $384.15 on Monday. The company has a 50 day moving average of $370.10 and a 200 day moving average of $375.87. The company has a market cap of $146.63 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a 12 month low of $314.93 and a 12 month 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.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $2.50 EPS. On average, sell-side analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SYK. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research note on Tuesday, March 4th. Truist Financial increased their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average price target 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.

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