Simmons Bank Boosts Holdings in Stryker Corporation (NYSE:SYK)

Simmons Bank grew its stake in Stryker Corporation (NYSE:SYK - Free Report) by 129.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,477 shares of the medical technology company's stock after acquiring an additional 1,398 shares during the period. Simmons Bank's holdings in Stryker were worth $922,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elefante Mark B purchased a new stake in shares of Stryker in the 4th quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. raised its stake in shares of Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after acquiring an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in shares of 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 acquiring an additional 3,341 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Stryker in the 1st quarter valued at approximately $1,840,000. Finally, Fred Alger Management LLC raised its stake in shares of Stryker by 415.8% in the 4th quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock valued at $8,664,000 after acquiring an additional 19,356 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.90% of the company's stock.

Stryker Trading Up 0.0%

NYSE SYK opened at $392.00 on Friday. 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 Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a market capitalization of $149.62 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91. The firm has a 50 day moving average of $382.92 and a two-hundred day moving average of $376.25.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The firm's revenue was up 11.9% on a year-over-year basis. As a group, research analysts expect that Stryker Corporation will post 13.47 EPS 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 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Evercore ISI cut their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. BTIG Research set a $403.00 target price on shares of Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Truist Financial upped their target price 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. Finally, Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.