Stryker Co. (NYSE:SYK) Shares Purchased by Welch Group LLC

Welch Group LLC lifted its position in Stryker Co. (NYSE:SYK - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,763 shares of the medical technology company's stock after purchasing an additional 1,055 shares during the period. Welch Group LLC's holdings in Stryker were worth $7,568,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Capital & Planning LLC lifted its position in shares of Stryker by 3.6% in the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock worth $304,000 after purchasing an additional 29 shares during the period. Brighton Jones LLC lifted its position in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after purchasing an additional 609 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Stryker by 12.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,967 shares of the medical technology company's stock worth $708,000 after buying an additional 214 shares during the period. Perigon Wealth Management LLC lifted its holdings in Stryker by 9.6% during the fourth quarter. Perigon Wealth Management LLC now owns 4,078 shares of the medical technology company's stock worth $1,557,000 after buying an additional 356 shares during the period. Finally, BSW Wealth Partners lifted its holdings in Stryker by 5.6% during the fourth quarter. BSW Wealth Partners now owns 1,431 shares of the medical technology company's stock worth $515,000 after buying an additional 76 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SYK shares. Barclays upped their price objective on Stryker from $418.00 to $443.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Truist Financial boosted their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 target price on shares of Stryker in a report on Friday, March 21st. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Finally, Roth Mkm upped their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of SYK stock traded up $0.51 during mid-day trading on Friday, reaching $382.86. The stock had a trading volume of 1,993,145 shares, compared to its average volume of 1,339,482. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The business's fifty day moving average is $368.77 and its 200-day moving average is $376.22. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $146.13 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last issued 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 company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 EPS. On average, research analysts forecast that Stryker Co. 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 given 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 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.