Stryker Co. (NYSE:SYK) Shares Purchased by Strategic Planning Group LLC

Strategic Planning Group LLC boosted its position in Stryker Co. (NYSE:SYK) by 17.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,986 shares of the medical technology company’s stock after buying an additional 584 shares during the quarter. Strategic Planning Group LLC’s holdings in Stryker were worth $1,426,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Norges Bank acquired a new position in Stryker in the 4th quarter worth $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker in the 1st quarter valued at about $341,049,000. Price T Rowe Associates Inc. MD raised its stake in shares of Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Stryker in the 1st quarter valued at about $93,369,000. Finally, Morgan Stanley raised its stake in shares of Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYK. TD Cowen upped their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their target price on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Piper Sandler upped their target price on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. BTIG Research boosted their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $370.58.

Stryker Price Performance

NYSE SYK opened at $339.46 on Tuesday. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a market cap of $129.32 billion, a price-to-earnings ratio of 38.72, a price-to-earnings-growth ratio of 2.70 and a beta of 0.92. The company has a 50-day moving average price of $336.69 and a two-hundred day moving average price of $332.60.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts forecast that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

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.