Trueblood Wealth Management LLC Increases Position in Stryker Co. (NYSE:SYK)

Trueblood Wealth Management LLC raised its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 28.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,022 shares of the medical technology company's stock after purchasing an additional 882 shares during the period. Trueblood Wealth Management LLC's holdings in Stryker were worth $1,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in shares of Stryker in the 4th quarter valued at about $26,000. Rakuten Securities Inc. lifted its holdings 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 acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Stryker in the 4th quarter valued at about $30,000. Finally, BankPlus Trust Department bought a new position in shares of Stryker in the 4th quarter valued at about $33,000. Institutional investors own 77.09% of the company's stock.

Stryker Trading Down 0.2%

Shares of Stryker stock traded down $0.65 on Thursday, hitting $380.43. 877,833 shares of the company traded hands, compared to its average volume of 1,330,802. The company has a market cap of $145.21 billion, a PE ratio of 49.02, a PEG ratio of 2.93 and a beta of 0.91. The stock's 50 day moving average price is $371.93 and its 200-day moving average price is $375.92. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. Stryker's revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $2.50 earnings per share. Equities research analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm 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. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SYK shares. BTIG Research set a $403.00 price target on shares of Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Evercore ISI decreased their price objective on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Citigroup reissued a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

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.