Retirement Planning Group LLC Purchases Shares of 1,396 Stryker Corporation $SYK

Retirement Planning Group LLC purchased a new position in Stryker Corporation (NYSE:SYK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,396 shares of the medical technology company’s stock, valued at approximately $516,000.

A number of other large investors have also recently made changes to their positions in SYK. Norges Bank purchased a new stake in Stryker during the 2nd quarter valued at about $1,882,173,000. Alliancebernstein L.P. lifted its holdings in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares during the period. Corient Private Wealth LLC boosted its position in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after buying an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. acquired a new position in Stryker in the 2nd quarter worth approximately $191,047,000. Finally, Vanguard Group Inc. raised its position in Stryker by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after buying an additional 440,607 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup cut their price objective on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Rothschild Redb raised shares of Stryker to a “hold” rating in a report on Thursday, September 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $448.00 price target on shares of Stryker in a research report on Friday, November 14th. Barclays boosted their price objective on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Sanford C. Bernstein raised their target price on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $430.00.

Insiders Place Their Bets

In other news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $358.81 on Thursday. The firm has a market cap of $137.22 billion, a PE ratio of 47.15, a P/E/G ratio of 2.28 and a beta of 0.89. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $359.85 and a 200 day moving average price of $374.37.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.Stryker’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $2.87 earnings per share. Sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s payout ratio is presently 46.25%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.