Nvest Financial LLC Has $1.09 Million Stake in Stryker Corporation (NYSE:SYK)

Nvest Financial LLC grew its position in shares of Stryker Corporation (NYSE:SYK) by 26.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,930 shares of the medical technology company’s stock after purchasing an additional 617 shares during the quarter. Nvest Financial LLC’s holdings in Stryker were worth $1,091,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SYK. Elefante Mark B bought a new position in shares of Stryker during the fourth quarter worth about $337,000. Mogy Joel R Investment Counsel Inc. lifted its position in shares of Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock worth $36,561,000 after purchasing an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. lifted its position in shares of Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock worth $65,096,000 after purchasing an additional 3,341 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Stryker during the first quarter worth $1,840,000. Finally, Metis Global Partners LLC increased its position in shares of Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after buying an additional 1,561 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction 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 $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYK. BTIG Research set a $403.00 price target on shares of Stryker and gave the company a “buy” rating in a research report on Monday, April 14th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Citigroup reiterated a “buy” rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $427.30.

Stryker Trading Up 1.5%

NYSE:SYK opened at $392.36 on Thursday. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The firm has a 50-day moving average price of $377.18 and a two-hundred day moving average price of $375.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The firm has a market cap of $149.76 billion, a price-to-earnings ratio of 53.02, a price-to-earnings-growth ratio of 2.91 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the business posted $2.50 earnings per share. Stryker’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is 45.41%.

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.