Monte Financial Group LLC Acquires 451 Shares of Stryker Corporation (NYSE:SYK)

Monte Financial Group LLC lifted its holdings in Stryker Corporation (NYSE:SYK) by 14.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,492 shares of the medical technology company’s stock after purchasing an additional 451 shares during the period. Monte Financial Group LLC’s holdings in Stryker were worth $1,210,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker in the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter worth about $26,000. Rakuten Securities Inc. increased its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth about $30,000. Finally, BankPlus Trust Department acquired a new stake in Stryker during the fourth quarter worth about $33,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.6%

Shares of SYK opened at $375.44 on Friday. The company has a market capitalization of $143.30 billion, a P/E ratio of 50.73, a PEG ratio of 2.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The business’s 50 day simple moving average is $374.95 and its 200-day simple moving average is $375.30.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.50 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is currently 45.41%.

Insider Transactions at Stryker

In related 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 value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

SYK has been the topic of a number of recent research reports. Citigroup reissued a “buy” rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Roth Mkm lifted their target price on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Finally, Evercore ISI decreased their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

Stryker 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.