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

Parr Mcknight Wealth Management Group LLC increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 26.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,390 shares of the medical technology company's stock after purchasing an additional 1,134 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Stryker were worth $2,006,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Norges Bank purchased a new stake in Stryker in the 4th quarter worth $1,710,744,000. GAMMA Investing LLC grew its holdings in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares in the last quarter. FMR LLC grew its holdings in shares of 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. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Stryker during the 4th quarter valued at about $154,140,000. Finally, Northern Trust Corp grew its holdings in shares of Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after purchasing an additional 420,153 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Truist Financial lifted their target price on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Citigroup restated a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Evercore ISI boosted their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $428.55.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of SYK opened at $392.05 on Thursday. The firm has a market capitalization of $149.64 billion, a price-to-earnings ratio of 52.98, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The stock's fifty day moving average is $384.17 and its 200-day moving average is $376.78.

Stryker (NYSE:SYK - Get Free Report) last released 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 firm 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%. Stryker's revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 earnings per share. Equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend on an annualized basis and a yield of 0.86%. Stryker's dividend payout ratio is currently 45.41%.

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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