Osprey Private Wealth LLC boosted its position in shares of Stryker Corporation (NYSE:SYK – Free Report) by 1,398.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 10,491 shares of the medical technology company’s stock after acquiring an additional 9,791 shares during the period. Osprey Private Wealth LLC’s holdings in Stryker were worth $3,447,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new stake in shares of Stryker during the 4th quarter worth approximately $26,000. Sankala Group LLC bought a new stake in Stryker in the fourth quarter worth $26,000. United Financial Planning Group LLC bought a new stake in Stryker in the third quarter worth $27,000. Atlas Capital Advisors Inc. purchased a new stake in Stryker during the fourth quarter valued at $27,000. Finally, DJE Kapital AG bought a new position in Stryker during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Stryker Trading Up 0.8%
Shares of SYK stock traded up $2.75 on Friday, reaching $329.86. 2,724,614 shares of the company’s stock were exchanged, compared to its average volume of 2,471,298. The company’s fifty day simple moving average is $310.12 and its 200 day simple moving average is $337.97. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $126.46 billion, a PE ratio of 38.18, a P/E/G ratio of 2.10 and a beta of 0.77.
Stryker Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 40.74%.
Insider Activity at Stryker
In other Stryker news, VP M Kathryn Fink sold 3,500 shares of Stryker stock in a transaction on Monday, May 11th. The stock was sold at an average price of $283.45, for a total transaction of $992,075.00. Following the completion of the sale, the vice president directly owned 177 shares of the company’s stock, valued at $50,170.65. The trade was a 95.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. The trade was a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 323,264 shares of company stock worth $100,659,489. Company insiders own 4.60% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Canaccord Genuity Group decreased their target price on shares of Stryker from $435.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Argus set a $370.00 price objective on Stryker in a research note on Thursday. Truist Financial restated a “hold” rating and set a $330.00 price objective (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $361.00 target price on shares of Stryker in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $392.87.
Stryker Profile
Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.
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