Fortitude Advisory Group L.L.C. Purchases 39 Shares of Stryker Co. (NYSE:SYK)

Fortitude Advisory Group L.L.C. boosted its holdings in Stryker Co. (NYSE:SYK) by 3.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,068 shares of the medical technology company’s stock after buying an additional 39 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Stryker were worth $370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Grimes & Company Inc. boosted its position in shares of Stryker by 0.8% during the first quarter. Grimes & Company Inc. now owns 8,343 shares of the medical technology company’s stock valued at $3,106,000 after buying an additional 66 shares during the last quarter. Sagespring Wealth Partners LLC raised its position in Stryker by 10.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 3,370 shares of the medical technology company’s stock worth $1,254,000 after buying an additional 315 shares during the last quarter. Great Lakes Retirement Inc. lifted its stake in Stryker by 7.8% during the 1st quarter. Great Lakes Retirement Inc. now owns 5,120 shares of the medical technology company’s stock valued at $1,906,000 after acquiring an additional 372 shares during the period. Adero Partners LLC boosted its holdings in shares of Stryker by 51.7% during the 1st quarter. Adero Partners LLC now owns 1,215 shares of the medical technology company’s stock valued at $452,000 after acquiring an additional 414 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Stryker in the first quarter worth approximately $1,072,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 0.1%

Shares of SYK opened at $377.05 on Tuesday. The business’s 50 day moving average is $373.53 and its 200 day moving average is $375.55. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a market capitalization of $143.91 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is 45.41%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a “buy” rating in a research report on Monday, April 14th. Evercore ISI lowered their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Citigroup reaffirmed a “buy” rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value 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 approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.

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.