Retirement Income Solutions Inc Purchases Shares of 812 Stryker Corporation (NYSE:SYK)

Retirement Income Solutions Inc bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 812 shares of the medical technology company's stock, valued at approximately $302,000.

A number of other institutional investors have also recently bought and sold shares of SYK. Brighton Jones LLC raised its holdings in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Stryker during the 4th quarter worth approximately $660,000. CoreFirst Bank & Trust acquired a new position in shares of Stryker during the 4th quarter worth approximately $245,000. Modern Wealth Management LLC grew its position in shares of Stryker by 197.6% during the 4th quarter. Modern Wealth Management LLC now owns 2,845 shares of the medical technology company's stock worth $1,117,000 after purchasing an additional 1,889 shares in the last quarter. Finally, TD Asset Management Inc. boosted its position in shares of Stryker by 7.0% during the 4th quarter. TD Asset Management Inc. now owns 1,264,686 shares of the medical technology company's stock worth $455,350,000 after acquiring an additional 82,306 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research analyst reports. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Roth Mkm boosted 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. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Truist Financial boosted their price target on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

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 transaction, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of SYK stock traded up $6.68 during trading hours on Friday, reaching $403.34. The company had a trading volume of 963,567 shares, compared to its average volume of 1,155,846. The business has a fifty day moving average price of $386.37 and a 200-day moving average price of $379.23. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The firm has a market cap of $153.95 billion, a PE ratio of 54.51, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion during 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 firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.50 earnings per share. Sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced 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. This represents a $3.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Stryker Company 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.