Parr Mcknight Wealth Management Group LLC Invests $1.53 Million in Stryker Co. (NYSE:SYK)

Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,256 shares of the medical technology company's stock, valued at approximately $1,532,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fourth Dimension Wealth LLC bought a new stake in shares of Stryker in the fourth quarter worth about $245,000. Breed s Hill Capital LLC bought a new stake in shares of Stryker in the fourth quarter worth about $225,000. Vise Technologies Inc. increased its holdings in shares of Stryker by 100.2% in the fourth quarter. Vise Technologies Inc. now owns 3,620 shares of the medical technology company's stock worth $1,303,000 after purchasing an additional 1,812 shares during the last quarter. Blue Fin Capital Inc. increased its holdings in shares of Stryker by 1.4% in the fourth quarter. Blue Fin Capital Inc. now owns 11,034 shares of the medical technology company's stock worth $3,973,000 after purchasing an additional 151 shares during the last quarter. Finally, Connecticut Wealth Management LLC increased its holdings in shares of Stryker by 92.2% in the fourth quarter. Connecticut Wealth Management LLC now owns 1,401 shares of the medical technology company's stock worth $504,000 after purchasing an additional 672 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays boosted their price objective on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. BTIG Research set a $403.00 price objective on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Canaccord Genuity Group boosted their price objective on Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price objective on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $427.30.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred 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 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 SEC, which is available at the SEC website. 5.90% of the stock is currently owned by insiders.

Stryker Trading Up 1.9%

Shares of NYSE SYK traded up $7.04 during trading hours on Tuesday, reaching $383.66. The stock had a trading volume of 1,099,109 shares, compared to its average volume of 1,347,413. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $146.44 billion, a price-to-earnings ratio of 49.44, a P/E/G ratio of 2.93 and a beta of 0.93. The business's fifty day moving average price is $368.04 and its two-hundred day moving average price is $376.15. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

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

Stryker Announces Dividend

The firm also recently disclosed 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 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.