Mascagni Wealth Management Inc. Invests $1.17 Million in Stryker Co. (NYSE:SYK)

Mascagni Wealth Management Inc. bought a new position in Stryker Co. (NYSE:SYK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,246 shares of the medical technology company’s stock, valued at approximately $1,169,000. Stryker makes up 1.0% of Mascagni Wealth Management Inc.’s portfolio, making the stock its 27th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after acquiring an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Stryker by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after purchasing an additional 54,693 shares during the last quarter. FMR LLC raised its position in Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares during the period. Geode Capital Management LLC lifted its stake in Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after purchasing an additional 168,436 shares during the last quarter. Finally, Norges Bank purchased a new stake in Stryker during the fourth quarter valued at about $1,710,744,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.20% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $383.66 on Wednesday. The company has a 50-day simple moving average of $368.24 and a two-hundred day simple moving average of $376.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market capitalization of $146.44 billion, a PE ratio of 49.44, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter last year, the business posted $2.50 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SYK shares. JPMorgan Chase & Co. lifted their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Citigroup reaffirmed a “buy” rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wells Fargo & Company increased their price objective on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

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.