Davidson Capital Management Inc. Invests $3.19 Million in Stryker Corporation (NYSE:SYK)

Davidson Capital Management Inc. purchased a new position in shares of Stryker Corporation (NYSE:SYK) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,563 shares of the medical technology company’s stock, valued at approximately $3,188,000. Stryker comprises approximately 0.9% of Davidson Capital Management Inc.’s portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Community Bank N.A. raised its holdings in shares of Stryker by 3.7% in the first quarter. Community Bank N.A. now owns 6,839 shares of the medical technology company’s stock valued at $2,546,000 after buying an additional 245 shares during the last quarter. State of Alaska Department of Revenue increased its position in Stryker by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 40,243 shares of the medical technology company’s stock valued at $14,980,000 after acquiring an additional 1,125 shares in the last quarter. MFA Wealth Advisors LLC raised its stake in shares of Stryker by 5.3% in the first quarter. MFA Wealth Advisors LLC now owns 691 shares of the medical technology company’s stock worth $257,000 after acquiring an additional 35 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Stryker by 21.7% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,489 shares of the medical technology company’s stock worth $555,000 after purchasing an additional 265 shares in the last quarter. Finally, Essex Savings Bank grew its stake in shares of Stryker by 6.8% during the first quarter. Essex Savings Bank now owns 6,241 shares of the medical technology company’s stock valued at $2,323,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. Evercore ISI decreased their price objective on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. BTIG Research set a $403.00 price objective on Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. Truist Financial increased their price target on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Finally, Citigroup reissued a “buy” rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

SYK opened at $373.22 on Thursday. The company has a market capitalization of $142.45 billion, a price-to-earnings ratio of 50.43, a P/E/G ratio of 2.82 and a beta of 0.91. The business’s 50-day moving average price is $373.92 and its two-hundred day moving average price is $375.52. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the firm earned $2.50 EPS. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker’s payout ratio is currently 45.41%.

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.