Parr Mcknight Wealth Management Group LLC Raises Holdings in Stryker Corporation (NYSE:SYK)

Parr Mcknight Wealth Management Group LLC increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 26.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,390 shares of the medical technology company's stock after purchasing an additional 1,134 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Stryker were worth $2,006,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after buying an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Stryker by 0.5% during the fourth 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 buying an additional 54,693 shares in the last quarter. FMR LLC grew its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Geode Capital Management LLC grew its position in Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after buying an additional 168,436 shares in the last quarter. Finally, Norges Bank purchased a new position in Stryker during the fourth quarter worth about $1,710,744,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Down 1.3%

Shares of NYSE:SYK traded down $5.04 during trading on Friday, hitting $389.73. The stock had a trading volume of 390,104 shares, compared to its average volume of 1,348,838. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market capitalization of $148.76 billion, a PE ratio of 52.66, a PEG ratio of 2.96 and a beta of 0.91. The firm's fifty day moving average is $384.57 and its 200 day moving average is $376.97. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last announced 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 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The business's revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that Stryker Corporation 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. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BTIG Research set a $403.00 target price on Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Truist Financial lifted their price target on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Stryker presently has an average rating of "Moderate Buy" and an average price target of $428.55.

Insider Buying and Selling at Stryker

In related 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 value of $75,392,000.00. Following the sale, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.90% of the stock is owned by insiders.

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.