Russell Investments Group Ltd. Purchases 22,416 Shares of Stryker Corporation (NYSE:SYK)

Russell Investments Group Ltd. lifted its position in Stryker Corporation (NYSE:SYK) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,727 shares of the medical technology company’s stock after buying an additional 22,416 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Stryker worth $83,906,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter valued at $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the 1st quarter valued at $32,000. City Holding Co. increased its position 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 buying an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker in the 1st quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Stryker in the 4th quarter valued at $42,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SYK. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company increased their target price on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Citigroup reiterated a “buy” rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Truist Financial set a $415.00 target price on Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Finally, Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $430.10.

Stryker Trading Down 0.0%

Shares of NYSE:SYK opened at $376.50 on Wednesday. The company has a 50-day simple moving average of $386.99 and a 200 day simple moving average of $379.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market capitalization of $143.94 billion, a P/E ratio of 49.87, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 52-week low of $325.37 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $2.81 earnings per share. Sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

Stryker Company 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.