Sound View Wealth Advisors Group LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,297 shares of the medical technology company’s stock after purchasing an additional 195 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Stryker were worth $803,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of SYK. Norges Bank bought a new stake in Stryker during the 4th quarter worth approximately $811,698,000. FMR LLC boosted its stake in shares of Stryker by 246.1% in the 4th quarter. FMR LLC now owns 4,189,778 shares of the medical technology company’s stock valued at $1,026,663,000 after purchasing an additional 2,979,131 shares during the last quarter. FIL Ltd boosted its stake in shares of Stryker by 98.9% in the 4th quarter. FIL Ltd now owns 832,585 shares of the medical technology company’s stock valued at $204,017,000 after purchasing an additional 413,950 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Stryker by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,889,733 shares of the medical technology company’s stock valued at $7,318,132,000 after purchasing an additional 364,668 shares during the last quarter. Finally, Fundsmith LLP boosted its stake in shares of Stryker by 5.7% in the 4th quarter. Fundsmith LLP now owns 6,634,893 shares of the medical technology company’s stock valued at $1,625,814,000 after purchasing an additional 357,755 shares during the last quarter. 71.46% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on SYK. Deutsche Bank Aktiengesellschaft increased their target price on shares of Stryker from $251.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Robert W. Baird increased their target price on shares of Stryker from $265.00 to $292.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Truist upped their price objective on shares of Stryker from $245.00 to $255.00 in a report on Wednesday, April 28th. Credit Suisse Group lowered their price objective on shares of Stryker from $278.00 to $273.00 and set an “outperform” rating on the stock in a report on Thursday, January 28th. Finally, Oppenheimer upped their price objective on shares of Stryker from $240.00 to $273.00 in a report on Wednesday, April 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Stryker has an average rating of “Buy” and an average price target of $261.59.
In other Stryker news, VP M Kathryn Fink sold 4,000 shares of Stryker stock in a transaction that occurred on Thursday, April 8th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,000 shares of Stryker stock in a transaction on Monday, March 1st. The stock was sold at an average price of $246.01, for a total transaction of $492,020.00. Following the completion of the transaction, the chief financial officer now directly owns 12,321 shares in the company, valued at $3,031,089.21. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
SYK traded down $6.05 on Tuesday, reaching $257.05. The company had a trading volume of 16,239 shares, compared to its average volume of 1,193,786. The business has a 50 day simple moving average of $249.13 and a 200 day simple moving average of $238.13. The company has a market cap of $96.84 billion, a price-to-earnings ratio of 57.07, a P/E/G ratio of 2.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.15 and a current ratio of 2.89. Stryker Co. has a 52-week low of $171.75 and a 52-week high of $268.04.
Stryker (NYSE:SYK) last announced its earnings results on Monday, April 26th. The medical technology company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.06). The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Stryker had a net margin of 12.35% and a return on equity of 20.94%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. As a group, equities research analysts predict that Stryker Co. will post 7.18 EPS for the current fiscal year.
Stryker Company Profile
Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg and Neurotechnology and Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.
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