ProShare Advisors LLC Purchases 5,686 Shares of Stryker Co. (NYSE:SYK)

ProShare Advisors LLC grew its position in Stryker Co. (NYSE:SYK - Free Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,940 shares of the medical technology company's stock after buying an additional 5,686 shares during the period. ProShare Advisors LLC's holdings in Stryker were worth $18,701,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYK. Vanguard Group Inc. raised its position in shares of Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock valued at $11,773,213,000 after purchasing an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Stryker by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after purchasing an additional 54,693 shares during the last quarter. FMR LLC raised its position in shares of Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Stryker by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after purchasing an additional 168,436 shares during the last quarter. Finally, Norges Bank purchased a new position in Stryker during the 4th quarter worth approximately $1,710,744,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYK. JPMorgan Chase & Co. raised their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Truist Financial raised their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Argus set a $450.00 price objective on shares of Stryker in a research note on Monday, February 3rd. BTIG Research set a $403.00 price objective on shares of Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Finally, Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.05.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. The trade was a 14.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business'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 sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

SYK stock opened at $394.24 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock's 50 day moving average is $366.62 and its two-hundred day moving average is $375.39. The company has a market capitalization of $150.48 billion, a PE ratio of 50.80, a P/E/G ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 EPS. Analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm 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. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker's dividend payout ratio (DPR) is presently 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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