Stryker Corporation (NYSE:SYK) Stake Increased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC increased its stake in Stryker Corporation (NYSE:SYK) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,805 shares of the medical technology company’s stock after buying an additional 216 shares during the period. Daymark Wealth Partners LLC’s holdings in Stryker were worth $2,533,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Elefante Mark B acquired a new position in Stryker in the fourth quarter worth $337,000. Mogy Joel R Investment Counsel Inc. lifted its holdings in Stryker by 3.4% in the first 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 during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in Stryker by 1.9% in the first 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 during the last quarter. Harbor Capital Advisors Inc. bought a new position in Stryker in the first quarter worth about $1,840,000. Finally, Metis Global Partners LLC lifted its holdings in 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 acquiring an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $392.36 on Thursday. The firm has a 50-day moving average price of $377.18 and a 200 day moving average price of $375.31. The firm has a market capitalization of $149.76 billion, a PE ratio of 53.02, a P/E/G ratio of 2.91 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the firm posted $2.50 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’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 completion of the transaction, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYK. Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a report on Friday, March 21st. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. BTIG Research set a $403.00 price target on shares of Stryker and gave the company a “buy” rating in a report on Monday, April 14th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Truist Financial lifted their price target on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a report on Monday, May 5th. Four equities 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

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.