Raymond James Financial Services Advisors Inc. Sells 8,409 Shares of Stryker Co. (NYSE:SYK)

Raymond James Financial Services Advisors Inc. lessened its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 4.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,841 shares of the medical technology company's stock after selling 8,409 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in Stryker were worth $66,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SYK. Strategic Blueprint LLC raised its stake in Stryker by 39.8% during the third quarter. Strategic Blueprint LLC now owns 980 shares of the medical technology company's stock worth $268,000 after buying an additional 279 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Stryker by 10.2% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 820 shares of the medical technology company's stock valued at $224,000 after purchasing an additional 76 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Stryker by 1.3% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,767 shares of the medical technology company's stock valued at $1,303,000 after purchasing an additional 63 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in Stryker by 6.9% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,915 shares of the medical technology company's stock valued at $797,000 after purchasing an additional 188 shares in the last quarter. Finally, Avestar Capital LLC increased its stake in Stryker by 17.0% in the third quarter. Avestar Capital LLC now owns 1,116 shares of the medical technology company's stock valued at $305,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Stryker from $330.00 to $345.00 and gave the company a "hold" rating in a research note on Wednesday, January 31st. BTIG Research lifted their price target on shares of Stryker from $366.00 to $369.00 and gave the company a "buy" rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of Stryker from $364.00 to $381.00 and gave the company an "overweight" rating in a research note on Wednesday. Robert W. Baird lifted their price target on shares of Stryker from $367.00 to $378.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Citigroup lifted their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a "buy" rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average price target of $357.05.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company's stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 3,755,128 shares of the company's stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company's stock, valued at $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 in the last three months. Company insiders own 5.50% of the company's stock.

Stryker Stock Down 2.5 %

Stryker stock traded down $8.36 during midday trading on Wednesday, hitting $328.14. 2,766,930 shares of the stock were exchanged, compared to its average volume of 1,318,941. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market capitalization of $124.85 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. The business's 50-day moving average price is $348.05 and its 200-day moving average price is $316.78. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts expect that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker's dividend payout ratio is currently 38.79%.

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.

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