Portside Wealth Group LLC Boosts Stake in Stryker Co. (NYSE:SYK)

Portside Wealth Group LLC boosted its position in shares of Stryker Co. (NYSE:SYK) by 15.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 789 shares of the medical technology company’s stock after acquiring an additional 107 shares during the quarter. Portside Wealth Group LLC’s holdings in Stryker were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. J. W. Coons Advisors LLC increased its position in Stryker by 0.7% during the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after acquiring an additional 26 shares during the last quarter. Mascoma Wealth Management LLC increased its position in Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after acquiring an additional 27 shares during the last quarter. Lindbrook Capital LLC increased its position in Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 28 shares during the last quarter. JFS Wealth Advisors LLC increased its position in Stryker by 4.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 29 shares during the last quarter. Finally, Capital & Planning LLC increased its position in Stryker by 3.6% during 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. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred 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 directly owns 3,417,326 shares in the company, valued at $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 SEC, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

NYSE SYK opened at $385.21 on Wednesday. The firm has a market cap of $147.03 billion, a price-to-earnings ratio of 49.64, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $370.53 and a 200-day moving average price of $375.91. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is presently 45.41%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore ISI reduced their price objective on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Truist Financial boosted 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. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a report on Friday, June 6th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

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.