TruNorth Capital Management LLC Purchases 1,697 Shares of Stryker Corporation (NYSE:SYK)

TruNorth Capital Management LLC grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,701 shares of the medical technology company's stock after buying an additional 1,697 shares during the quarter. Stryker accounts for approximately 2.0% of TruNorth Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. TruNorth Capital Management LLC's holdings in Stryker were worth $8,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC raised its holdings in shares of Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after purchasing an additional 29 shares during the period. Oakworth Capital Inc. raised its holdings in shares of Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares during the period. ICW Investment Advisors LLC raised its holdings in shares of Stryker by 0.6% in the 4th quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company's stock worth $1,745,000 after purchasing an additional 30 shares during the period. Rinkey Investments raised its holdings in shares of Stryker by 1.1% in the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after purchasing an additional 30 shares during the period. Finally, Tritonpoint Wealth LLC raised its holdings in shares of Stryker by 0.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 30 shares during the period. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction 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 transaction, the director owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Roth Mkm lifted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Truist Financial boosted 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. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $428.55.

Stryker Trading Down 1.4%

Stryker stock opened at $389.24 on Friday. The stock has a market cap of $148.57 billion, a P/E ratio of 52.60, a PEG ratio of 2.94 and a beta of 0.91. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm's fifty day moving average price is $384.79 and its 200-day moving average price is $377.14. 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for 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 business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. Equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. 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.

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