Stryker Corporation (NYSE:SYK) Shares Acquired by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC boosted its position in Stryker Corporation (NYSE:SYK - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing 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 reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter worth about $26,000. Rakuten Securities Inc. grew its stake in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares during the period. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the 1st quarter valued at $32,000. City Holding Co. boosted its stake in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Stryker during the fourth quarter valued at about $36,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Truist Financial raised their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $428.55.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of NYSE:SYK traded up $2.62 during trading on Thursday, hitting $394.67. 1,167,734 shares of the stock were exchanged, compared to its average volume of 1,352,604. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company has a market cap of $150.64 billion, a PE ratio of 53.33, a P/E/G ratio of 2.96 and a beta of 0.91. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a fifty day moving average price of $384.17 and a two-hundred day moving average price of $376.78.

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 analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 earnings per share. On average, analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.85%. Stryker's payout ratio is currently 45.41%.

Stryker 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.