Blue Trust Inc. Buys 442 Shares of Stryker Corporation (NYSE:SYK)

Blue Trust Inc. raised its position in Stryker Corporation (NYSE:SYK) by 6.0% in the 1st quarter, Holdings Channel reports. The firm owned 7,861 shares of the medical technology company’s stock after buying an additional 442 shares during the quarter. Blue Trust Inc.’s holdings in Stryker were worth $2,926,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYK. Vanguard Group Inc. raised its holdings in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after purchasing an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Stryker by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after purchasing an additional 54,693 shares in the last quarter. FMR LLC lifted its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Geode Capital Management LLC grew its stake in Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after buying an additional 168,436 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Stryker in the 4th quarter valued at about $1,710,744,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYK. Evercore ISI cut their price objective on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Roth Mkm lifted their target price 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. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research report on Monday, May 5th. Citigroup reissued a “buy” rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Truist Financial upped their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Trading Down 0.0%

Shares of SYK stock opened at $373.22 on Thursday. The company has a market capitalization of $142.45 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average price of $373.92 and a two-hundred day moving average price of $375.52.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion for 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 last year, the business earned $2.50 EPS. As a group, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is 45.41%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction 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 sale, the director now owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This represents 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 through this link. 5.90% of the stock is owned by company insiders.

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.