Stryker Corporation (NYSE:SYK) Shares Sold by ERn Financial LLC

ERn Financial LLC cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 33.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,665 shares of the medical technology company's stock after selling 1,319 shares during the quarter. ERn Financial LLC's holdings in Stryker were worth $992,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Norris Perne & French LLP MI lifted its position in shares of Stryker by 31.4% in the 1st quarter. Norris Perne & French LLP MI now owns 3,665 shares of the medical technology company's stock valued at $1,364,000 after acquiring an additional 876 shares in the last quarter. United Advisor Group LLC acquired a new stake in Stryker during the 1st quarter valued at $219,000. HCR Wealth Advisors lifted its holdings in shares of Stryker by 5.9% in the first quarter. HCR Wealth Advisors now owns 8,077 shares of the medical technology company's stock valued at $3,007,000 after purchasing an additional 451 shares in the last quarter. Well Done LLC boosted its position in shares of Stryker by 5.2% in the first quarter. Well Done LLC now owns 4,975 shares of the medical technology company's stock worth $1,791,000 after buying an additional 246 shares during the period. Finally, Sterling Investment Counsel LLC purchased a new position in shares of Stryker during the first quarter valued at $801,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SYK. BTIG Research set a $403.00 price objective on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Truist Financial upped their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Finally, Roth Mkm upped their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the business'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 transaction of $75,392,000.00. Following the sale, the director now directly owns 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 SEC, which is accessible through the SEC website. Company insiders own 5.90% of the company's stock.

Stryker Stock Down 0.0%

Stryker stock opened at $373.22 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a fifty day moving average price of $373.92 and a two-hundred day moving average price of $375.52. The firm has a market cap of $142.45 billion, a price-to-earnings ratio of 50.43, a P/E/G ratio of 2.82 and a beta of 0.91.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

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.

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