Raymond James & Associates Purchases 24,689 Shares of Stryker Co. (NYSE:SYK)

Raymond James & Associates grew its position in Stryker Co. (NYSE:SYK) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 591,216 shares of the medical technology company’s stock after purchasing an additional 24,689 shares during the quarter. Raymond James & Associates’ holdings in Stryker were worth $211,578,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SYK. Vanguard Group Inc. lifted its stake in Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after buying an additional 143,631 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. FMR LLC grew its holdings in Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after purchasing an additional 144,208 shares during the period. Morgan Stanley increased its stake in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after buying an additional 29,209 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada increased their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. TD Cowen raised their price target on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Roth Mkm boosted their price objective on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Truist Financial lifted their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $340.67.

Stryker Stock Performance

SYK traded down $1.54 during midday trading on Friday, reaching $335.61. The company had a trading volume of 1,063,790 shares, compared to its average volume of 1,108,426. The business has a 50-day moving average price of $348.88 and a two-hundred day moving average price of $314.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The stock has a market cap of $127.69 billion, a PE ratio of 40.68, a P/E/G ratio of 2.71 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period in the prior year, the company earned $3.00 earnings per share. Stryker’s revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is currently 38.79%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. In the last ninety days, insiders sold 212,109 shares of company stock valued at $72,845,768. Company insiders own 5.90% of the company’s stock.

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.