Stryker Corporation (NYSE:SYK) Shares Acquired by Essex Savings Bank

Essex Savings Bank lifted its position in Stryker Corporation (NYSE:SYK) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,241 shares of the medical technology company’s stock after acquiring an additional 400 shares during the period. Essex Savings Bank’s holdings in Stryker were worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Norges Bank purchased a new stake in shares of Stryker in the 4th quarter valued at $1,710,744,000. GAMMA Investing LLC boosted its stake in shares of Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock worth $772,390,000 after buying an additional 2,070,133 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Stryker during the fourth quarter worth about $353,394,000. FMR LLC raised its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after acquiring an additional 727,850 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in Stryker by 52,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after acquiring an additional 595,061 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SYK shares. Evercore ISI decreased their target price 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. Truist Financial increased their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. Citigroup restated a “buy” rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $373.36 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a market capitalization of $142.51 billion, a PE ratio of 50.45, a P/E/G ratio of 2.84 and a beta of 0.91. The business’s 50 day moving average price is $373.73 and its 200-day moving average price is $375.54.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued 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 yield of 0.90%. Stryker’s payout ratio is 45.41%.

Stryker 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.