NorthRock Partners LLC Boosts Stake in Stryker Corporation (NYSE:SYK)

NorthRock Partners LLC lifted its stake in Stryker Corporation (NYSE:SYK) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,945 shares of the medical technology company’s stock after buying an additional 320 shares during the period. NorthRock Partners LLC’s holdings in Stryker were worth $5,936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SYK. Elefante Mark B bought a new position in Stryker during the 4th quarter worth approximately $337,000. Mogy Joel R Investment Counsel Inc. increased its position in Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock valued at $36,561,000 after acquiring an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. increased its position in Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock valued at $65,096,000 after acquiring an additional 3,341 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Stryker in the 1st quarter valued at approximately $1,840,000. Finally, Mar Vista Investment Partners LLC increased its position in shares of Stryker by 10.2% during the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock valued at $33,572,000 after purchasing an additional 8,353 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SYK shares. Truist Financial lifted their price target on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Evercore ISI lifted their price objective on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $428.55.

Stryker Stock Down 0.1%

Shares of SYK opened at $400.39 on Wednesday. The company has a market capitalization of $152.82 billion, a P/E ratio of 54.11, a PEG ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The business’s 50 day simple moving average is $386.71 and its 200-day simple moving average is $379.82.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’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 completion of the sale, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by corporate insiders.

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.