Rhumbline Advisers Buys 9,578 Shares of Stryker Co. (NYSE:SYK)

Rhumbline Advisers increased its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 662,188 shares of the medical technology company's stock after purchasing an additional 9,578 shares during the period. Rhumbline Advisers owned approximately 0.17% of Stryker worth $246,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in SYK. Capital & Planning LLC grew its holdings in Stryker by 3.6% during the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock valued at $304,000 after buying an additional 29 shares in the last quarter. Brighton Jones LLC increased its stake in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares during the period. Strategic Blueprint LLC lifted its holdings in Stryker by 2.7% during the fourth quarter. Strategic Blueprint LLC now owns 1,465 shares of the medical technology company's stock worth $527,000 after buying an additional 39 shares during the period. Crews Bank & Trust bought a new stake in shares of Stryker in the 4th quarter valued at about $39,000. Finally, Caprock Group LLC raised its stake in Stryker by 4.0% in the fourth quarter. Caprock Group LLC now owns 8,953 shares of the medical technology company's stock valued at $3,231,000 after buying an additional 342 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SYK shares. Citigroup reaffirmed a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Truist Financial upped their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Needham & Company LLC reissued a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Finally, Barclays boosted their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Stryker Stock Performance

Shares of Stryker stock traded up $0.47 on Tuesday, reaching $381.33. 1,100,350 shares of the company traded hands, compared to its average volume of 1,336,590. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a 50 day moving average of $369.04 and a 200 day moving average of $376.02. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The firm has a market capitalization of $145.55 billion, a PE ratio of 49.14, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping 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 return on equity of 23.58% and a net margin of 13.25%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 EPS. Equities analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Activity at Stryker

In other 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 completion of the transaction, the director now directly 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 Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by corporate insiders.

About Stryker

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.