Red Door Wealth Management LLC Buys 175 Shares of Stryker Co. (NYSE:SYK)

Red Door Wealth Management LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 25.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 856 shares of the medical technology company’s stock after acquiring an additional 175 shares during the period. Red Door Wealth Management LLC’s holdings in Stryker were worth $306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC bought a new stake in Stryker during the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the period. Rogco LP bought a new stake in Stryker during the fourth quarter valued at $30,000. DSM Capital Partners LLC purchased a new position in Stryker during the fourth quarter worth about $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker in the 4th quarter worth about $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Piper Sandler increased their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Barclays lifted their price objective on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Robert W. Baird increased their target price on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group initiated coverage on Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target for the company. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $370.58.

Stryker Trading Down 0.1 %

Shares of SYK opened at $340.25 on Monday. The firm has a fifty day simple moving average of $337.38 and a two-hundred day simple moving average of $333.91. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a market capitalization of $129.62 billion, a P/E ratio of 38.84, a PEG ratio of 2.68 and a beta of 0.89. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s dividend payout ratio is presently 36.53%.

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.