Portside Wealth Group LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

Portside Wealth Group LLC lifted its stake in Stryker Co. (NYSE:SYK) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 789 shares of the medical technology company’s stock after buying an additional 107 shares during the period. Portside Wealth Group LLC’s holdings in Stryker were worth $294,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Moss Adams Wealth Advisors LLC grew its stake in shares of Stryker by 29.0% in the first quarter. Moss Adams Wealth Advisors LLC now owns 1,036 shares of the medical technology company’s stock worth $387,000 after purchasing an additional 233 shares during the last quarter. Courier Capital LLC grew its stake in shares of Stryker by 22.5% in the first quarter. Courier Capital LLC now owns 3,740 shares of the medical technology company’s stock worth $1,392,000 after purchasing an additional 686 shares during the last quarter. Wesbanco Bank Inc. grew its stake in shares of Stryker by 3.8% in the first quarter. Wesbanco Bank Inc. now owns 28,548 shares of the medical technology company’s stock worth $10,627,000 after purchasing an additional 1,052 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of Stryker by 76.0% in the first quarter. Capital Investment Advisors LLC now owns 3,240 shares of the medical technology company’s stock worth $1,206,000 after purchasing an additional 1,399 shares during the last quarter. Finally, Tilia Fiduciary Partners Inc. grew its stake in shares of Stryker by 1.6% in the first quarter. Tilia Fiduciary Partners Inc. now owns 7,188 shares of the medical technology company’s stock worth $2,676,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.8%

Shares of NYSE:SYK opened at $385.21 on Wednesday. The stock has a fifty day simple moving average of $370.53 and a two-hundred day simple moving average of $375.91. The stock has a market capitalization of $147.03 billion, a price-to-earnings ratio of 49.64, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 earnings per share. On average, research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared 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. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SYK. Roth Mkm raised their target price on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Citigroup reissued a “buy” rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $427.30.

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.