Thurston Springer Miller Herd & Titak Inc. Increases Holdings in Stryker Co. (NYSE:SYK)

Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,842 shares of the medical technology company's stock after buying an additional 2,109 shares during the period. Stryker comprises approximately 0.7% of Thurston Springer Miller Herd & Titak Inc.'s portfolio, making the stock its 29th largest position. Thurston Springer Miller Herd & Titak Inc.'s holdings in Stryker were worth $4,037,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker in the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in Stryker in the fourth quarter worth approximately $26,000. Rakuten Securities Inc. grew its position in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department acquired a new position in Stryker during the 4th quarter worth approximately $33,000. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent research reports. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday, May 5th. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. The Goldman Sachs Group set a $422.00 target price on Stryker in a report on Tuesday, March 4th. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Truist Financial raised their price objective on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Stock Performance

SYK traded up $1.05 during trading on Friday, hitting $384.15. 709,048 shares of the company traded hands, compared to its average volume of 1,330,144. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The stock's fifty day moving average is $369.88 and its 200 day moving average is $376.06. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a market cap of $146.63 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its 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 net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the firm earned $2.50 EPS. The company's revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

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.