Stryker Co. (NYSE:SYK) Shares Bought by Sky Investment Group LLC

Sky Investment Group LLC raised its position in Stryker Co. (NYSE:SYK) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,644 shares of the medical technology company’s stock after buying an additional 440 shares during the period. Sky Investment Group LLC’s holdings in Stryker were worth $5,823,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital & Planning LLC boosted its holdings in shares of Stryker by 3.6% during the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after purchasing an additional 29 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of 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 during the last quarter. Empowered Funds LLC boosted its holdings in shares of Stryker by 17.5% during the 4th quarter. Empowered Funds LLC now owns 7,644 shares of the medical technology company’s stock worth $2,752,000 after purchasing an additional 1,140 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Stryker during the 4th quarter worth approximately $236,000. Finally, Savant Capital LLC boosted its holdings in shares of Stryker by 8.5% during the 4th quarter. Savant Capital LLC now owns 7,592 shares of the medical technology company’s stock worth $2,734,000 after purchasing an additional 596 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SYK shares. Truist Financial boosted their target price on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Citigroup restated a “buy” rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI reduced their price target on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, June 6th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director now directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $380.43 on Friday. The company has a fifty day simple moving average of $371.93 and a two-hundred day simple moving average of $375.92. The company has a market cap of $145.21 billion, a price-to-earnings ratio of 49.02, 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. 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 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 business 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 company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. As a group, equities analysts anticipate 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 paid a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio (DPR) is 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.