Concurrent Investment Advisors LLC lifted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 73.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,876 shares of the medical technology company's stock after acquiring an additional 6,301 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Stryker were worth $5,538,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Capital A Wealth Management LLC bought a new stake in Stryker in the fourth quarter worth $26,000. Rakuten Securities Inc. increased its holdings in shares of Stryker by 618.2% in the fourth 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. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the 1st quarter valued at about $32,000. City Holding Co. boosted its holdings in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC bought a new position in Stryker during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.09% of the company's stock.
Insider Activity
In related 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 transaction of $75,392,000.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on SYK. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Citigroup reissued a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Finally, Truist Financial increased their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.
Get Our Latest Research Report on SYK
Stryker Stock Up 0.0%
Shares of SYK stock traded up $0.19 during midday trading on Friday, reaching $392.00. 536,295 shares of the stock were exchanged, compared to its average volume of 1,348,236. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a market cap of $149.62 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91. The company's 50 day moving average is $382.92 and its two-hundred day moving average is $376.25. 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. On average, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.
Stryker Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.
About Stryker
(
Free Report)
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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