PFG Advisors Grows Stock Holdings in Stryker Corporation (NYSE:SYK)

PFG Advisors increased its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 30.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,841 shares of the medical technology company's stock after purchasing an additional 3,458 shares during the period. PFG Advisors' holdings in Stryker were worth $5,525,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in Stryker during the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC purchased a new stake in Stryker during the first quarter valued at approximately $32,000. City Holding Co. increased its holdings in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Stryker during the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Stryker during the fourth quarter valued at approximately $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 0.5%

NYSE SYK opened at $387.58 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The company has a market capitalization of $147.94 billion, a price-to-earnings ratio of 52.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company's 50-day simple moving average is $385.67 and its two-hundred day simple moving average is $378.19. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during 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%. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business earned $2.50 EPS. Equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker's payout ratio is 45.41%.

Analysts Set New Price Targets

A number of analysts have commented on SYK shares. Roth Mkm upped their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Evercore ISI upped their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Truist Financial upped their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director directly owned 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% 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.

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