Daymark Wealth Partners LLC Increases Position in Stryker Co. (NYSE:SYK)

Daymark Wealth Partners LLC grew its stake in Stryker Co. (NYSE:SYK) by 3.3% during the first quarter, HoldingsChannel reports. The fund owned 6,805 shares of the medical technology company’s stock after acquiring an additional 216 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Stryker were worth $2,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in shares of Stryker in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. grew its position 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 worth $28,000 after buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Stryker in the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the fourth quarter worth $33,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred 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 owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday. Barclays boosted their target price on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Truist Financial boosted their target price on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $427.30.

Stryker Stock Down 0.4%

SYK stock opened at $382.25 on Tuesday. The firm’s fifty day simple moving average is $370.19 and its 200-day simple moving average is $375.85. The company has a market capitalization of $145.90 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid 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 0.88%. Stryker’s payout ratio is 45.41%.

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.