PDS Planning Inc Raises Position in Stryker Corporation (NYSE:SYK)

PDS Planning Inc lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,772 shares of the medical technology company’s stock after purchasing an additional 210 shares during the period. PDS Planning Inc’s holdings in Stryker were worth $660,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SYK. Norges Bank purchased a new stake in shares of Stryker during the 4th quarter worth approximately $1,710,744,000. GAMMA Investing LLC increased its stake in shares of Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Stryker during the 4th quarter worth approximately $353,394,000. FMR LLC increased its stake in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Stryker by 52,520.8% during the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after purchasing an additional 595,061 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 Stryker stock in a transaction on 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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.90% of the stock is currently owned by insiders.

Stryker Stock Down 0.4%

SYK opened at $390.67 on Friday. The company has a fifty day moving average price of $378.06 and a 200-day moving average price of $375.38. The firm has a market capitalization of $149.11 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.91. 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 one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the firm posted $2.50 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

Analysts Set New Price Targets

Several research analysts recently commented on SYK shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Truist Financial raised their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. BTIG Research set a $403.00 price objective on shares of Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Roth Mkm raised their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Company 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.