Stryker Corporation (NYSE:SYK) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lifted its position in Stryker Corporation (NYSE:SYK - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,535 shares of the medical technology company's stock after buying an additional 830 shares during the period. Stryker makes up about 1.9% of Marks Group Wealth Management Inc's portfolio, making the stock its 6th largest position. Marks Group Wealth Management Inc's holdings in Stryker were worth $19,928,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock valued at $11,773,213,000 after acquiring an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Stryker by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after purchasing an additional 54,693 shares during the period. FMR LLC increased its holdings in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Stryker by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after purchasing an additional 168,436 shares during the period. Finally, Norges Bank acquired a new stake in Stryker during the fourth quarter valued at $1,710,744,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on 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 transaction, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.20% of the company's stock.

Stryker Stock Up 0.1%

Stryker stock traded up $0.31 during trading on Monday, reaching $389.77. The stock had a trading volume of 245,354 shares, compared to its average volume of 1,452,104. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $384.79 and a 200 day moving average price of $377.20. The stock has a market cap of $148.77 billion, a PE ratio of 52.68, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.50 EPS. On average, analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued 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 yield of 0.86%. Stryker's payout ratio is currently 45.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Citigroup reissued a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. BTIG Research set a $403.00 target price on Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Finally, Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $428.55.

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.