Praxis Investment Management Inc. Decreases Stake in Stryker Corporation (NYSE:SYK)

Praxis Investment Management Inc. lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,210 shares of the medical technology company's stock after selling 1,360 shares during the quarter. Praxis Investment Management Inc.'s holdings in Stryker were worth $3,056,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth approximately $26,000. Rakuten Securities Inc. raised its holdings in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth approximately $30,000. Finally, City Holding Co. raised 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 worth $33,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. Roth Mkm raised their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Truist Financial lifted their target price on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $427.30.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction 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 sale, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE:SYK opened at $375.44 on Friday. The firm's fifty day moving average price is $374.95 and its 200 day moving average price is $375.30. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The firm has a market cap of $143.30 billion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 2.81 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the firm posted $2.50 EPS. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend 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%.

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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