Stryker Corporation (NYSE:SYK) Position Increased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC raised its position in shares of Stryker Corporation (NYSE:SYK) by 3.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,805 shares of the medical technology company’s stock after buying an additional 216 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Stryker were worth $2,533,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after buying an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock worth $4,000,056,000 after purchasing an additional 54,693 shares in the last quarter. FMR LLC lifted its position in shares of Stryker by 10.0% in the fourth 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after purchasing an additional 168,436 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth approximately $1,710,744,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a “buy” rating in a research report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Evercore ISI reduced their price target on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $427.30.

Stryker Trading Up 1.5%

Shares of SYK stock opened at $392.36 on Thursday. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $377.18 and its two-hundred day moving average is $375.31. The company has a market cap of $149.76 billion, a PE ratio of 53.02, a price-to-earnings-growth ratio of 2.91 and a beta of 0.91.

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

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were 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 in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

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.