Harbor Investment Advisory LLC Boosts Stock Position in Stryker Co. (NYSE:SYK)

Harbor Investment Advisory LLC raised its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 16.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,819 shares of the medical technology company's stock after buying an additional 1,126 shares during the quarter. Harbor Investment Advisory LLC's holdings in Stryker were worth $2,911,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SYK. J. W. Coons Advisors LLC boosted its holdings in shares of Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock worth $1,315,000 after purchasing an additional 26 shares during the period. Mascoma Wealth Management LLC boosted its holdings in shares of Stryker by 22.7% in the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock worth $53,000 after purchasing an additional 27 shares during the period. Opal Wealth Advisors LLC boosted its holdings in shares of Stryker by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock worth $654,000 after purchasing an additional 28 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock worth $507,000 after purchasing an additional 28 shares during the period. Finally, Capital & Planning LLC boosted its holdings in shares of Stryker by 3.6% in the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock worth $304,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. 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. Barclays boosted their price objective on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Finally, The Goldman Sachs Group set a $422.00 target price on Stryker in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Stryker Price Performance

Shares of NYSE SYK traded up $1.04 during midday trading on Thursday, hitting $383.59. The stock had a trading volume of 371,658 shares, compared to its average volume of 1,329,779. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. 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 company has a market capitalization of $146.41 billion, a PE ratio of 49.43, a P/E/G ratio of 2.93 and a beta of 0.93. The stock has a 50 day simple moving average of $369.68 and a 200-day simple moving average of $376.11.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter last year, the firm earned $2.50 earnings per share. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect 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. 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 dividend on an annualized basis and a dividend yield of 0.88%. Stryker's payout ratio is 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.