Mission Wealth Management LP Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Mission Wealth Management LP increased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 33.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,377 shares of the medical technology company's stock after purchasing an additional 2,873 shares during the period. Mission Wealth Management LP's holdings in Stryker were worth $4,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYK. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter valued at $1,710,744,000. GAMMA Investing LLC grew its position in Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares during the period. Raymond James Financial Inc. purchased a new stake in Stryker during the fourth quarter valued at about $353,394,000. FMR LLC grew its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the period. Finally, Proficio Capital Partners LLC grew its position in Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after acquiring an additional 595,061 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Truist Financial boosted their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Needham & Company LLC reissued a "buy" rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Finally, Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research report on Saturday. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $427.30.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was 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 now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by corporate insiders.

Stryker Trading Down 0.9%

NYSE:SYK opened at $377.01 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The business's 50-day simple moving average is $372.73 and its 200 day simple moving average is $375.66. The stock has a market cap of $143.90 billion, a price-to-earnings ratio of 48.58, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results 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. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the firm posted $2.50 earnings per share. The company's revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company 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 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

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.

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