Larson Financial Group LLC Raises Stake in Stryker Corporation $SYK

Larson Financial Group LLC lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,404 shares of the medical technology company’s stock after purchasing an additional 1,539 shares during the quarter. Larson Financial Group LLC’s holdings in Stryker were worth $6,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Clayton Financial Group LLC purchased a new stake in Stryker during the third quarter worth about $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker in the second quarter valued at about $28,000. Kilter Group LLC purchased a new position in Stryker in the second quarter valued at about $29,000. Howard Hughes Medical Institute purchased a new stake in shares of Stryker during the 2nd quarter worth approximately $29,000. Finally, United Financial Planning Group LLC purchased a new stake in shares of Stryker during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

SYK stock opened at $349.89 on Tuesday. The stock’s 50 day moving average price is $365.22 and its 200 day moving average price is $367.06. The firm has a market cap of $133.90 billion, a P/E ratio of 41.65, a PEG ratio of 1.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a 1 year low of $328.23 and a 1 year high of $404.87.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the business posted $4.01 earnings per share. Stryker’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYK. Jefferies Financial Group reaffirmed a “buy” rating and issued a $465.00 price objective on shares of Stryker in a research note on Wednesday, March 4th. TD Cowen downgraded Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a research report on Monday, January 26th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Evercore set a $390.00 price target on Stryker in a research note on Monday, January 5th. Finally, Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $428.61.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.20% of the company’s stock.

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.