PFG Investments LLC Sells 1,246 Shares of Stryker Corporation (NYSE:SYK)

PFG Investments LLC lessened its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 21.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,555 shares of the medical technology company's stock after selling 1,246 shares during the period. PFG Investments LLC's holdings in Stryker were worth $1,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elefante Mark B purchased a new stake in Stryker during the fourth quarter worth $337,000. Mogy Joel R Investment Counsel Inc. lifted its stake in shares of Stryker by 3.4% during 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 valued at $65,096,000 after purchasing an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Stryker in the first quarter valued at about $1,840,000. Finally, Metis Global Partners LLC grew its stake 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 last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SYK. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reiterated a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Truist Financial raised their target price on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Roth Mkm lifted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 completion of the transaction, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of NYSE:SYK opened at $375.44 on Friday. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company has a market cap of $143.30 billion, a PE ratio of 50.73, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. The company's 50 day moving average is $374.95 and its 200 day moving average is $375.20.

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 for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 earnings per share. On average, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued 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 dividend payout ratio (DPR) is presently 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.

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