Deltec Asset Management LLC Takes $741,000 Position in Stryker Corporation (NYSE:SYK)

Deltec Asset Management LLC bought a new stake in Stryker Corporation (NYSE:SYK) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,990 shares of the medical technology company’s stock, valued at approximately $741,000.

Several other large investors have also recently added to or reduced their stakes in the business. J. W. Coons Advisors LLC increased its position in Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after acquiring an additional 26 shares during the period. Mascoma Wealth Management LLC increased its position in Stryker by 22.7% in the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after acquiring an additional 27 shares during the period. Lindbrook Capital LLC increased its position in Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 28 shares during the period. United Community Bank increased its position in Stryker by 3.4% in the 4th quarter. United Community Bank now owns 904 shares of the medical technology company’s stock valued at $325,000 after acquiring an additional 30 shares during the period. Finally, Ironwood Investment Counsel LLC increased its position in Stryker by 0.9% in the 4th quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company’s stock valued at $1,196,000 after acquiring an additional 30 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYK. Citigroup restated a “buy” rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Truist Financial raised their target price on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Evercore ISI lowered their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Stock Performance

SYK opened at $375.44 on Friday. The firm has a market cap of $143.30 billion, a PE ratio of 50.73, a P/E/G ratio of 2.81 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $374.95 and a 200-day simple moving average of $375.30. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $2.50 EPS. As a group, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio is presently 45.41%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

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.