Focus Financial Network Inc. Takes $214,000 Position in Stryker Co. (NYSE:SYK)

Focus Financial Network Inc. purchased a new stake in Stryker Co. (NYSE:SYK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 576 shares of the medical technology company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker during the fourth quarter worth about $25,000. Capital A Wealth Management LLC purchased a new position in shares of Stryker during the fourth quarter worth about $26,000. Rakuten Securities Inc. grew its holdings in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Stryker during the fourth quarter worth about $30,000. Finally, City Holding Co. grew its holdings in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 0.9%

SYK stock opened at $377.01 on Friday. The stock has a market capitalization of $143.90 billion, a P/E ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a 50 day moving average price of $372.73 and a two-hundred day moving average price of $375.75.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same period in the previous year, the company earned $2.50 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is 45.41%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SYK shares. 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 lifted their price objective on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Evercore ISI lowered their price objective on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Finally, Truist Financial lifted their price objective 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $427.30.

Stryker 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.