Red Spruce Capital LLC Has $421,000 Holdings in Stryker Co. (NYSE:SYK)

Red Spruce Capital LLC boosted its stake in Stryker Co. (NYSE:SYK) by 35.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,132 shares of the medical technology company’s stock after buying an additional 296 shares during the quarter. Red Spruce Capital LLC’s holdings in Stryker were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYK. Capital & Planning LLC lifted its stake in Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after acquiring an additional 29 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Stryker by 12.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,967 shares of the medical technology company’s stock valued at $708,000 after purchasing an additional 214 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Stryker by 9.6% in the fourth quarter. Perigon Wealth Management LLC now owns 4,078 shares of the medical technology company’s stock worth $1,557,000 after purchasing an additional 356 shares in the last quarter. Finally, BSW Wealth Partners increased its position in Stryker by 5.6% during the fourth quarter. BSW Wealth Partners now owns 1,431 shares of the medical technology company’s stock worth $515,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is currently owned by insiders.

Stryker Stock Up 0.5%

Shares of SYK stock opened at $382.12 on Friday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a fifty day moving average price of $368.57 and a 200 day moving average price of $376.25. The stock has a market cap of $145.85 billion, a P/E ratio of 49.24, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

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

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is currently 45.41%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYK. Evercore ISI decreased their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Argus set a $450.00 target price on Stryker in a research report on Monday, February 3rd. Truist Financial increased 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. 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, Barclays upped their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

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.