Park Avenue Securities LLC Has $4.32 Million Position in Stryker Co. (NYSE:SYK)

Park Avenue Securities LLC raised its stake in Stryker Co. (NYSE:SYK - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,597 shares of the medical technology company's stock after acquiring an additional 984 shares during the quarter. Park Avenue Securities LLC's holdings in Stryker were worth $4,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Stryker during the 4th quarter worth $1,710,744,000. GAMMA Investing LLC lifted its stake in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares during the period. Raymond James Financial Inc. bought a new position in Stryker in the fourth quarter valued at about $353,394,000. FMR LLC increased its position in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after purchasing an additional 727,850 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in Stryker by 52,520.8% during the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after purchasing an additional 595,061 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Truist Financial upped 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. Roth Mkm raised their target price on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Stock Down 0.2%

Stryker stock traded down $0.65 during midday trading on Thursday, reaching $380.43. The stock had a trading volume of 877,833 shares, compared to its average volume of 1,328,826. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm's fifty day simple moving average is $371.23 and its 200-day simple moving average is $375.95. The stock has a market capitalization of $145.21 billion, a P/E ratio of 49.02, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its 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 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the prior year, the company posted $2.50 earnings per share. The firm's revenue was up 11.9% on a year-over-year basis. As a group, analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.90% of the company's stock.

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.