Stryker Corporation (NYSE:SYK) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 79.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 16,248 shares of the medical technology company’s stock after purchasing an additional 7,189 shares during the quarter. Moran Wealth Management LLC’s holdings in Stryker were worth $6,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker in the 4th quarter valued at $25,000. Capital A Wealth Management LLC acquired a new position in shares of Stryker in the 4th quarter valued at $26,000. Rakuten Securities Inc. lifted its stake in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Stryker in the 4th quarter valued at $33,000. Finally, City Holding Co. lifted its stake in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds 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 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Stryker Trading Up 2.0%

NYSE:SYK opened at $386.80 on Wednesday. The stock has a market cap of $147.64 billion, a P/E ratio of 52.27, a P/E/G ratio of 2.86 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The stock has a 50-day simple moving average of $376.26 and a 200-day simple moving average of $375.19.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 23.74% and a net margin of 12.31%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 EPS. As a group, analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SYK shares. Evercore ISI decreased their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. 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. Citigroup reiterated 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. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Finally, The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.