Retirement Guys Formula LLC Takes $1.45 Million Position in Stryker Corporation (NYSE:SYK)

Retirement Guys Formula LLC acquired a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,884 shares of the medical technology company's stock, valued at approximately $1,446,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Elefante Mark B purchased a new position in shares of Stryker during the fourth quarter worth about $337,000. Mogy Joel R Investment Counsel Inc. raised its stake in shares of Stryker by 3.4% during the first 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. increased its stake in Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after buying an additional 3,341 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Stryker during the first quarter worth about $1,840,000. Finally, Metis Global Partners LLC lifted its holdings in shares of Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after buying an additional 1,561 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 2.0%

Shares of SYK traded up $7.64 during midday trading on Tuesday, hitting $386.80. The company had a trading volume of 1,746,007 shares, compared to its average volume of 1,334,370. The company's 50 day moving average price is $375.47 and its 200 day moving average price is $375.11. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a market cap of $147.64 billion, a price-to-earnings ratio of 52.27, a PEG ratio of 2.83 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results 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 return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the business earned $2.50 EPS. The business's quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent analyst reports. 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 note on Monday, May 5th. Roth Mkm increased their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Citigroup restated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Finally, Evercore ISI lowered their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

Insider Transactions at Stryker

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 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 owns 3,417,326 shares in the company, 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 SEC, which is available through this hyperlink. Insiders own 5.20% of the company's stock.

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.