Well Done LLC Has $1.79 Million Stake in Stryker Corporation (NYSE:SYK)

Well Done LLC boosted its stake in Stryker Corporation (NYSE:SYK) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,975 shares of the medical technology company’s stock after purchasing an additional 246 shares during the period. Well Done LLC’s holdings in Stryker were worth $1,791,000 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 acquired a new stake in Stryker in the fourth quarter valued at $1,710,744,000. GAMMA Investing LLC increased its holdings in Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after purchasing an additional 2,070,133 shares during the period. Raymond James Financial Inc. acquired a new stake in Stryker in the fourth quarter valued at $353,394,000. FMR LLC grew its holdings in Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in Stryker by 52,520.8% during the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after acquiring an additional 595,061 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial increased their price target on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. BTIG Research set a $403.00 price target on Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

Stryker Stock Performance

Stryker stock opened at $373.22 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $142.45 billion, a PE ratio of 50.43, a P/E/G ratio of 2.82 and a beta of 0.91. The firm has a fifty day simple moving average of $373.92 and a two-hundred day simple moving average of $375.52. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19.

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

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is presently 45.41%.

Insiders Place Their Bets

In other 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 transaction of $75,392,000.00. Following the completion of the transaction, the director now directly owns 3,417,326 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by insiders.

About Stryker

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.