Sowell Financial Services LLC Takes $1.07 Million Position in Stryker Corporation (NYSE:SYK)

Sowell Financial Services LLC acquired a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,881 shares of the medical technology company's stock, valued at approximately $1,072,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker during the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new position in Stryker during the fourth quarter valued at $26,000. Rakuten Securities Inc. raised its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter worth about $30,000. Finally, City Holding Co. boosted its stake in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction 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 transaction, the director now directly owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Down 0.0%

NYSE SYK traded down $0.15 during midday trading on Thursday, hitting $373.22. 854,682 shares of the company traded hands, compared to its average volume of 1,333,573. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The company's 50-day simple moving average is $373.92 and its 200-day simple moving average is $375.52. The company has a market cap of $142.45 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

Stryker (NYSE:SYK - Get Free Report) last issued 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 return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the company earned $2.50 earnings per share. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid 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 0.90%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Analysts Set New Price Targets

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