PKO Investment Management Joint Stock Co Purchases 2,200 Shares of Stryker Co. (NYSE:SYK)

PKO Investment Management Joint Stock Co lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 73.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the medical technology company’s stock after acquiring an additional 2,200 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Stryker were worth $1,936,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Insigneo Advisory Services LLC bought a new position in Stryker in the 1st quarter valued at $336,000. NBT Bank N A NY grew its position in Stryker by 17.5% during the first quarter. NBT Bank N A NY now owns 4,984 shares of the medical technology company’s stock worth $1,855,000 after buying an additional 744 shares in the last quarter. Chicago Capital LLC raised its stake in Stryker by 0.7% in the first quarter. Chicago Capital LLC now owns 196,419 shares of the medical technology company’s stock valued at $73,117,000 after purchasing an additional 1,367 shares in the last quarter. WD Rutherford LLC grew its position in Stryker by 2.1% in the first quarter. WD Rutherford LLC now owns 10,857 shares of the medical technology company’s stock worth $3,765,000 after acquiring an additional 227 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its position in shares of Stryker by 3.8% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,068 shares of the medical technology company’s stock valued at $370,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on 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. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.1%

Shares of Stryker stock opened at $377.05 on Tuesday. The company has a 50-day simple moving average of $373.53 and a two-hundred day simple moving average of $375.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock 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 posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 earnings per share. On average, analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced 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. This represents a $3.36 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

Analysts Set New Price Targets

Several analysts have weighed in on SYK shares. Roth Mkm boosted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Evercore ISI dropped their target price on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Citigroup restated a “buy” rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Finally, Truist Financial raised their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock 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.