PDS Planning Inc Acquires 210 Shares of Stryker Corporation (NYSE:SYK)

by · The Markets Daily

PDS Planning Inc boosted its holdings in Stryker Corporation (NYSE:SYKFree Report) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,772 shares of the medical technology company’s stock after purchasing an additional 210 shares during the period. PDS Planning Inc’s holdings in Stryker were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after purchasing an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 during the last quarter. FMR LLC lifted its stake in 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 during the last quarter. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Finally, Norges Bank bought a new stake in Stryker in the fourth quarter worth $1,710,744,000. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SYK. Evercore ISI lowered their price target on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm boosted their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, Citigroup restated a “buy” rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $427.30.

Check Out Our Latest Research Report on SYK

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $390.67 on Friday. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The company’s 50-day moving average is $378.06 and its 200 day moving average is $375.38. The stock has a market capitalization 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 (NYSE:SYKGet Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for 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%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.50 earnings per share. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Stryker Profile

(Free Report)

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.

See Also

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