Pure Financial Advisors LLC Increases Position in Stryker Corporation (NYSE:SYK)

Pure Financial Advisors LLC lifted its stake in Stryker Corporation (NYSE:SYK) by 106.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,178 shares of the medical technology company’s stock after acquiring an additional 1,123 shares during the period. Pure Financial Advisors LLC’s holdings in Stryker were worth $811,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Elefante Mark B purchased a new stake in shares of Stryker during the fourth quarter valued at about $337,000. Mogy Joel R Investment Counsel Inc. raised its stake in shares of Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock worth $36,561,000 after acquiring an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in shares of Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock worth $65,096,000 after acquiring an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Stryker during the 1st quarter valued at approximately $1,840,000. Finally, Metis Global Partners LLC raised its holdings in shares of Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after buying an additional 1,561 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Truist Financial lifted their target price on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Finally, Citigroup reiterated a “buy” rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Stock Down 0.4%

NYSE SYK opened at $390.67 on Friday. The business has a fifty day moving average price of $378.06 and a 200 day moving average price of $375.38. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The company has a market cap of $149.11 billion, a P/E ratio of 52.79, a P/E/G ratio of 2.96 and a beta of 0.91. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating 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 net margin of 12.31% and a return on equity of 23.74%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share. Research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Stryker 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.