Moran Wealth Management LLC Buys 7,189 Shares of Stryker Corporation (NYSE:SYK)

Moran Wealth Management LLC lifted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 79.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,248 shares of the medical technology company's stock after purchasing an additional 7,189 shares during the period. Moran Wealth Management LLC's holdings in Stryker were worth $6,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Elefante Mark B acquired a new stake in shares of Stryker in the fourth quarter worth about $337,000. Mogy Joel R Investment Counsel Inc. lifted its holdings in Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after purchasing an additional 3,341 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Stryker during the first quarter valued at approximately $1,840,000. Finally, Metis Global Partners LLC raised its position in shares of Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after purchasing an additional 1,561 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

Shares of SYK traded up $5.90 during mid-day trading on Wednesday, reaching $392.36. The company had a trading volume of 1,915,995 shares, compared to its average volume of 1,337,858. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The company has a market capitalization of $149.76 billion, a P/E ratio of 53.02, a P/E/G ratio of 2.86 and a beta of 0.91. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company's 50-day moving average is $376.26 and its 200-day moving average is $375.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the prior year, the company posted $2.50 earnings per share. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Stryker Corporation 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 given a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Analysts Set New Price Targets

Several research firms recently issued reports on SYK. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI lowered their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Needham & Company LLC restated a "buy" rating and set a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. Finally, BTIG Research set a $403.00 target price on Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 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. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.20% of the company's stock.

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.