Portside Wealth Group LLC Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Portside Wealth Group LLC grew its holdings in Stryker Co. (NYSE:SYK) by 16.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 682 shares of the medical technology company’s stock after buying an additional 94 shares during the quarter. Portside Wealth Group LLC’s holdings in Stryker were worth $246,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker in the 4th quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter worth about $26,000. Rakuten Securities Inc. raised its position in shares of Stryker by 618.2% during 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 acquired a new position in shares of Stryker during the 4th quarter worth about $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the 4th quarter valued at about $33,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred 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 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 available through this link. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SYK shares. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. 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. Barclays increased their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $427.30.

Stryker Trading Up 0.0%

Shares of Stryker stock opened at $382.74 on Friday. The stock has a 50 day moving average of $369.88 and a 200 day moving average of $376.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $146.09 billion, a price-to-earnings ratio of 49.32, a PEG ratio of 2.93 and a beta of 0.93. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly 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 business had revenue of $5.87 billion during 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 revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. As a group, research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is 45.41%.

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.