Fortitude Advisory Group L.L.C. Purchases 39 Shares of Stryker Co. (NYSE:SYK)

Fortitude Advisory Group L.L.C. raised its position in Stryker Co. (NYSE:SYK) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,068 shares of the medical technology company’s stock after buying an additional 39 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Stryker were worth $370,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. J. W. Coons Advisors LLC boosted its holdings in shares of Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock worth $1,315,000 after purchasing an additional 26 shares in the last quarter. Mascoma Wealth Management LLC raised its holdings in shares of Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after buying an additional 27 shares in the last quarter. Lindbrook Capital LLC lifted its position in Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock worth $507,000 after buying an additional 28 shares during the last quarter. Capital & Planning LLC boosted its stake in Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after buying an additional 29 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in Stryker by 4.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 29 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. 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 research note on Friday, May 2nd. 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. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Finally, Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. 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.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $427.30.

Insider Activity 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 of the company’s stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Down 0.1%

Shares of SYK opened at $377.05 on Tuesday. Stryker Co. has a 1-year low of $314.93 and a 1-year 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. The firm’s 50-day moving average price is $373.53 and its 200-day moving average price is $375.55. The firm has a market capitalization of $143.91 billion, a price-to-earnings ratio of 48.59, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The firm 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 23.58% and a net margin of 13.25%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 EPS. Sell-side analysts anticipate that Stryker Co. will post 13.47 EPS for the current 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 given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is presently 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.