Citizens Financial Group Inc. RI Buys 372 Shares of Stryker Co. (NYSE:SYK)

Citizens Financial Group Inc. RI boosted its stake in shares of Stryker Co. (NYSE:SYK) by 17.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,540 shares of the medical technology company’s stock after purchasing an additional 372 shares during the period. Citizens Financial Group Inc. RI’s holdings in Stryker were worth $909,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after acquiring an additional 309,592 shares during the last quarter. Greenleaf Trust raised its stake in shares of Stryker by 0.6% in the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after buying an additional 108,080 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Stryker by 0.6% in 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 acquiring an additional 29,209 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Roth Mkm increased their price objective on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Needham & Company LLC upped their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial reduced their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday. Morgan Stanley upped their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $373.11.

Stryker Stock Down 0.5 %

Shares of SYK stock traded down $1.61 during trading hours on Friday, reaching $331.56. 1,738,618 shares of the company’s stock were exchanged, compared to its average volume of 1,322,149. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a market cap of $126.31 billion, a PE ratio of 37.71, a PEG ratio of 2.57 and a beta of 0.89. The stock’s fifty day moving average price is $338.95 and its two-hundred day moving average price is $339.48.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 23.26%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. Stryker’s revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Stryker Co. will post 11.98 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is owned by company insiders.

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.