Paradiem LLC Decreases Stake in Stryker Corporation (NYSE:SYK)

Paradiem LLC reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,058 shares of the medical technology company's stock after selling 1,252 shares during the period. Stryker comprises 3.2% of Paradiem LLC's investment portfolio, making the stock its 11th largest position. Paradiem LLC's holdings in Stryker were worth $11,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Wolff Wiese Magana LLC increased its stake in shares of Stryker by 41.2% in the first quarter. Wolff Wiese Magana LLC now owns 1,154 shares of the medical technology company's stock worth $430,000 after buying an additional 337 shares during the period. LVZ Inc. increased its position in shares of Stryker by 1.0% in the first quarter. LVZ Inc. now owns 4,243 shares of the medical technology company's stock valued at $1,579,000 after acquiring an additional 43 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Stryker by 0.7% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,527 shares of the medical technology company's stock valued at $3,919,000 after acquiring an additional 74 shares during the period. Kentucky Retirement Systems increased its position in shares of Stryker by 4.9% in the first quarter. Kentucky Retirement Systems now owns 24,715 shares of the medical technology company's stock valued at $9,200,000 after acquiring an additional 1,154 shares during the period. Finally, Consolidated Investment Group LLC increased its holdings in Stryker by 345.9% during the 1st quarter. Consolidated Investment Group LLC now owns 9,810 shares of the medical technology company's stock valued at $3,652,000 after purchasing an additional 7,610 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SYK shares. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI reduced their target price on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Citigroup reissued a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Truist Financial boosted their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Stryker Stock Up 0.6%

NYSE:SYK opened at $375.44 on Friday. The firm's 50-day moving average price is $374.95 and its 200-day moving average price is $375.20. The company has a market capitalization of $143.30 billion, a PE ratio of 50.73, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 earnings per share. On average, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. 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.

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