Portside Wealth Group LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

Portside Wealth Group LLC grew its holdings in Stryker Co. (NYSE:SYK) by 16.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 682 shares of the medical technology company’s stock after purchasing an additional 94 shares during the quarter. Portside Wealth Group LLC’s holdings in Stryker were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Capital & Planning LLC increased its position in shares of Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after acquiring an additional 29 shares during the period. Brighton Jones LLC grew its stake in Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after purchasing an additional 609 shares in the last quarter. Sargent Investment Group LLC grew its stake in Stryker by 7.1% during the 4th quarter. Sargent Investment Group LLC now owns 1,055 shares of the medical technology company’s stock worth $381,000 after purchasing an additional 70 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Stryker by 5.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 17,137 shares of the medical technology company’s stock worth $6,170,000 after purchasing an additional 859 shares during the period. Finally, Stratos Wealth Advisors LLC raised its position in Stryker by 5.6% in the 4th quarter. Stratos Wealth Advisors LLC now owns 4,409 shares of the medical technology company’s stock valued at $1,588,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.0%

Shares of NYSE SYK opened at $382.74 on Friday. The business has a 50-day moving average price of $369.88 and a 200 day moving average price of $376.06. The stock has a market cap of $146.09 billion, a PE ratio of 49.32, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. 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.

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

Stryker Announces Dividend

The firm also recently disclosed 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. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is currently 45.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays boosted their price objective on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Truist Financial boosted their price target on shares of Stryker from $390.00 to $400.00 and gave the stock 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 company a “buy” rating in a report on Monday, April 14th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Finally, Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $427.30.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by company insiders.

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.