Raymond James & Associates Buys 24,689 Shares of Stryker Co. (NYSE:SYK)

Raymond James & Associates grew its position in Stryker Co. (NYSE:SYK - Free Report) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 591,216 shares of the medical technology company's stock after purchasing an additional 24,689 shares during the quarter. Raymond James & Associates owned approximately 0.16% of Stryker worth $211,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC raised its stake in Stryker by 7.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 14,294 shares of the medical technology company's stock worth $5,115,000 after acquiring an additional 1,022 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in Stryker by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 27,892 shares of the medical technology company's stock worth $9,347,000 after acquiring an additional 236 shares in the last quarter. FORVIS Wealth Advisors LLC raised its stake in Stryker by 88.9% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 27,475 shares of the medical technology company's stock worth $9,833,000 after acquiring an additional 12,932 shares in the last quarter. FCG Investment Co raised its stake in Stryker by 97.3% during the 1st quarter. FCG Investment Co now owns 2,865 shares of the medical technology company's stock worth $1,025,000 after acquiring an additional 1,413 shares in the last quarter. Finally, New Century Financial Group LLC acquired a new stake in Stryker during the 1st quarter worth $220,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 0.5 %

Shares of NYSE:SYK traded down $1.54 during trading on Friday, reaching $335.61. The stock had a trading volume of 1,063,790 shares, compared to its average volume of 1,108,426. The business has a fifty day moving average price of $348.88 and a 200-day moving average price of $315.16. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a market cap of $127.69 billion, a P/E ratio of 40.68, a PEG ratio of 2.71 and a beta of 0.89. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the previous year, the firm earned $3.00 earnings per share. Stryker's revenue was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.95%. Stryker's dividend payout ratio is currently 38.79%.

Insiders Place Their Bets

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company's stock, valued at $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company's stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,109 shares of company stock valued at $72,845,768. Company insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on SYK. Evercore ISI lifted their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an "outperform" rating in a research note on Thursday, April 4th. TD Cowen raised their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a "buy" rating in a research report on Thursday, April 11th. Truist Financial raised their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a "hold" rating in a research report on Wednesday, January 31st. Citigroup raised their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group upgraded shares of Stryker from a "hold" rating to a "buy" rating and lifted their target price for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $340.67.

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.