Stryker Co. (NYSE:SYK) Position Increased by Grimes & Company Inc.

Grimes & Company Inc. increased its stake in Stryker Co. (NYSE:SYK) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,343 shares of the medical technology company’s stock after purchasing an additional 66 shares during the period. Grimes & Company Inc.’s holdings in Stryker were worth $3,106,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its holdings 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 purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department bought a new stake in shares of Stryker in the 4th quarter worth approximately $33,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at approximately $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 can be accessed through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of NYSE SYK opened at $377.05 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock 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. The stock’s fifty day simple moving average is $373.53 and its 200 day simple moving average is $375.55. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. As a group, sell-side analysts forecast 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 issued a dividend of $0.84 per share. 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 0.89%. Stryker’s dividend payout ratio is 45.41%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SYK shares. Truist Financial lifted their target price on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Saturday. Roth Mkm lifted their target price on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Citigroup reaffirmed a “buy” rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Evercore ISI cut their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research note 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. According to data from MarketBeat, Stryker presently 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.