Stryker Co. (NYSE:SYK) Holdings Lifted by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 21.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,100 shares of the medical technology company's stock after purchasing an additional 3,388 shares during the period. Parallel Advisors LLC's holdings in Stryker were worth $7,110,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SYK. Elefante Mark B purchased a new position in Stryker in the fourth quarter valued at approximately $337,000. Chicago Capital LLC raised its stake in shares of Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock valued at $70,228,000 after acquiring an additional 5,841 shares during the period. Appleton Partners Inc. MA raised its position in Stryker by 5.0% in the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after purchasing an additional 1,400 shares during the period. Metis Global Partners LLC raised its position in 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. Finally, Fred Alger Management LLC raised its position in Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock valued at $8,664,000 after purchasing an additional 19,356 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Truist Financial lifted their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. BTIG Research set a $403.00 target price on Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Citigroup reaffirmed a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Stock Performance

SYK stock traded up $0.51 during trading on Friday, hitting $382.86. 1,993,145 shares of the company's stock traded hands, compared to its average volume of 1,339,482. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a fifty day moving average price of $368.77 and a two-hundred day moving average price of $376.22. The stock has a market capitalization of $146.13 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company's stock.

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.