Stryker Corporation (NYSE:SYK) Shares Purchased by Woodley Farra Manion Portfolio Management Inc.

Key Points

• Woodley Farra Manion Portfolio Management Inc. increased its stake in Stryker Corporation by 2.3%, acquiring an additional 3,259 shares, bringing its total holdings to 144,176 shares valued at approximately $53.8 million.
• Stryker Corporation reported a quarterly earnings per share of $2.84, surpassing analysts' estimates, with a revenue of $5.87 billion, reflecting an 11.9% year-over-year growth.
• Insider transactions include Director Ronda E. Stryker selling 200,000 shares for $75.39 million, reducing her stake by 5.53%, while institutional investors hold about 77.09% of the company's stock.

Woodley Farra Manion Portfolio Management Inc. raised its stake in Stryker Corporation (NYSE:SYK - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 144,176 shares of the medical technology company's stock after purchasing an additional 3,259 shares during the quarter. Stryker accounts for 2.7% of Woodley Farra Manion Portfolio Management Inc.'s investment portfolio, making the stock its 18th biggest holding. Woodley Farra Manion Portfolio Management Inc.'s holdings in Stryker were worth $53,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Stryker in the 1st quarter valued at approximately $32,000. City Holding Co. lifted its holdings in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker in the 1st quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Truist Financial raised their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Citigroup reissued a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Four 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $428.55.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares in the company, 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.

Stryker Price Performance

Shares of NYSE SYK traded up $0.24 during trading on Wednesday, reaching $400.81. The company had a trading volume of 1,077,201 shares, compared to its average volume of 1,068,540. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The stock has a market capitalization of $152.99 billion, a PE ratio of 54.16, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The stock has a 50-day moving average price of $387.13 and a two-hundred day moving average price of $379.97. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

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 analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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