Notis McConarty Edward Has $1.21 Million Stock Holdings in Stryker Corporation (NYSE:SYK)

Notis McConarty Edward lessened its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,236 shares of the medical technology company's stock after selling 824 shares during the period. Notis McConarty Edward's holdings in Stryker were worth $1,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Norges Bank purchased a new position in shares of Stryker in the 4th quarter valued at approximately $1,710,744,000. GAMMA Investing LLC grew its stake in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. FMR LLC boosted its stake in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $154,140,000. Finally, Northern Trust Corp boosted its stake 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 buying an additional 420,153 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Up 1.7%

Shares of SYK traded up $6.68 during mid-day trading on Friday, reaching $403.34. The company's stock had a trading volume of 963,567 shares, compared to its average volume of 1,155,846. The business has a fifty day moving average of $386.37 and a 200 day moving average of $379.23. The company has a market cap of $153.95 billion, a price-to-earnings ratio of 54.51, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. 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 released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during 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 company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 earnings per share. As a group, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.83%. Stryker's dividend payout ratio is 45.41%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYK. Truist Financial lifted 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. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Finally, Evercore ISI lifted their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and sixteen 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.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction 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 completion of the sale, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.90% of the company's stock.

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.