Stryker Corporation (NYSE:SYK) Shares Acquired by Norris Perne & French LLP MI

Norris Perne & French LLP MI increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 31.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,665 shares of the medical technology company's stock after purchasing an additional 876 shares during the quarter. Norris Perne & French LLP MI's holdings in Stryker were worth $1,364,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Elefante Mark B purchased a new position in Stryker in the fourth quarter valued at about $337,000. Mogy Joel R Investment Counsel Inc. grew its holdings in shares of Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after acquiring an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. increased its stake in Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after purchasing an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Stryker during the first quarter worth $1,840,000. Finally, Metis Global Partners LLC boosted its position in Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after purchasing an additional 1,561 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on SYK shares. Needham & Company LLC reissued a "buy" rating and issued a $442.00 target price on shares of Stryker in a report on Friday, March 21st. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Citigroup restated a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. BTIG Research set a $403.00 price target on shares of Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Finally, Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus target price of $427.30.

Stryker Stock Performance

NYSE SYK opened at $373.22 on Thursday. The business's 50-day moving average price is $373.92 and its 200 day moving average price is $375.52. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a market capitalization of $142.45 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91.

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

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 0.90%. Stryker's dividend payout ratio is presently 45.41%.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company's stock.

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.

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