Stryker Co. (NYSE:SYK) Holdings Lifted by Grimes & Company Inc.

Grimes & Company Inc. boosted its position in shares of Stryker Co. (NYSE:SYK) by 0.8% in the first quarter, Holdings Channel.com reports. The firm owned 8,343 shares of the medical technology company’s stock after purchasing an additional 66 shares during the period. Grimes & Company Inc.’s holdings in Stryker were worth $3,106,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Elefante Mark B acquired a new stake in Stryker during the fourth quarter valued at $337,000. Mogy Joel R Investment Counsel Inc. boosted its position in Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock valued at $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock valued at $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Stryker during the first quarter valued at $1,840,000. Finally, Metis Global Partners LLC boosted its position in Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after purchasing an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other 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 value of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SYK shares. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Truist Financial boosted their price target on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $427.30.

Stryker Trading Down 0.1%

Shares of SYK opened at $377.05 on Tuesday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. 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 firm has a market capitalization of $143.91 billion, a price-to-earnings ratio of 48.59, a P/E/G ratio of 2.93 and a beta of 0.91. The stock’s 50-day moving average price is $373.53 and its 200 day moving average price is $375.55.

Stryker (NYSE:SYK) last issued its quarterly earnings results 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 return on equity of 23.58% and a net margin of 13.25%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 0.89%. Stryker’s dividend payout ratio is currently 45.41%.

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.