Morgan Stanley Purchases 216,709 Shares of Stryker Co. (NYSE:SYK)

Morgan Stanley boosted its position in shares of Stryker Co. (NYSE:SYK) by 7.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,220,919 shares of the medical technology company’s stock after purchasing an additional 216,709 shares during the quarter. Morgan Stanley’s holdings in Stryker were worth $784,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SYK. Camden National Bank bought a new stake in shares of Stryker during the fourth quarter worth approximately $213,000. Mattern Capital Management LLC raised its position in shares of Stryker by 0.6% during the 4th quarter. Mattern Capital Management LLC now owns 20,935 shares of the medical technology company’s stock valued at $5,130,000 after acquiring an additional 116 shares during the last quarter. FIL Ltd lifted its stake in shares of Stryker by 98.9% in the 4th quarter. FIL Ltd now owns 832,585 shares of the medical technology company’s stock valued at $204,017,000 after purchasing an additional 413,950 shares during the period. ExodusPoint Capital Management LP boosted its position in shares of Stryker by 174.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 5,057 shares of the medical technology company’s stock worth $1,239,000 after purchasing an additional 11,817 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Stryker during the fourth quarter worth $1,091,000. Institutional investors own 72.26% of the company’s stock.

In related news, CEO Kevin Lobo sold 107,795 shares of Stryker stock in a transaction dated Tuesday, May 4th. The stock was sold at an average price of $255.79, for a total transaction of $27,572,883.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.70% of the company’s stock.

Several equities analysts have recently issued reports on SYK shares. Barclays assumed coverage on Stryker in a research report on Monday, May 24th. They set an “underweight” rating and a $280.00 target price for the company. Morgan Stanley increased their target price on shares of Stryker from $265.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Raymond James boosted their price target on shares of Stryker from $255.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Truist Securities raised their price objective on Stryker from $245.00 to $255.00 in a research note on Wednesday, April 28th. Finally, Canaccord Genuity boosted their target price on Stryker from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $269.00.

NYSE:SYK opened at $258.68 on Thursday. Stryker Co. has a twelve month low of $185.20 and a twelve month high of $268.04. The firm has a market cap of $97.46 billion, a price-to-earnings ratio of 70.10, a price-to-earnings-growth ratio of 2.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.27 and a quick ratio of 1.39. The business’s 50 day moving average is $257.24.

Stryker (NYSE:SYK) last issued its earnings results on Monday, April 26th. The medical technology company reported $1.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($0.06). The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. Stryker had a return on equity of 21.90% and a net margin of 9.57%. Stryker’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. As a group, equities research analysts forecast that Stryker Co. will post 9.18 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Wednesday, June 30th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, June 29th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is 33.92%.

Stryker Company Profile

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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