Tritonpoint Wealth LLC Raises Position in Stryker Co. (NYSE:SYK)

Tritonpoint Wealth LLC increased its holdings in Stryker Co. (NYSE:SYK) by 0.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,042 shares of the medical technology company’s stock after buying an additional 30 shares during the period. Tritonpoint Wealth LLC’s holdings in Stryker were worth $1,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Vanguard Group Inc. raised its position in Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after purchasing an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Stryker by 0.5% during the fourth 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 in the last quarter. FMR LLC raised its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Geode Capital Management LLC raised its position in Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after purchasing an additional 168,436 shares in the last quarter. Finally, Norges Bank purchased a new stake in Stryker during the fourth quarter valued at about $1,710,744,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research reports. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Saturday. BTIG Research set a $403.00 price target on Stryker and gave the company a “buy” rating in a research report on Monday, April 14th. Truist Financial raised their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Roth Mkm raised their price objective on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $427.30.

Stryker Stock Down 0.9%

NYSE SYK opened at $377.01 on Friday. 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 stock has a market capitalization of $143.90 billion, a PE ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The business’s 50-day moving average is $372.73 and its 200 day moving average is $375.75.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.50 earnings per share. Sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 45.41%.

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.