Apollon Wealth Management LLC Has $8.73 Million Holdings in Stryker Corporation (NYSE:SYK)

Apollon Wealth Management LLC boosted its holdings in shares of Stryker Corporation (NYSE:SYK) by 181.4% in the first quarter, HoldingsChannel reports. The fund owned 23,447 shares of the medical technology company’s stock after buying an additional 15,116 shares during the quarter. Apollon Wealth Management LLC’s holdings in Stryker were worth $8,728,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Stryker by 46.2% in the 4th quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company’s stock worth $596,000 after purchasing an additional 523 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in Stryker by 16.8% in the 4th quarter. HBK Sorce Advisory LLC now owns 807 shares of the medical technology company’s stock worth $291,000 after purchasing an additional 116 shares during the last quarter. Picton Mahoney Asset Management lifted its holdings in Stryker by 12.1% in the 4th quarter. Picton Mahoney Asset Management now owns 762 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 82 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in Stryker by 16.9% in the 4th quarter. Natixis Advisors LLC now owns 184,817 shares of the medical technology company’s stock worth $66,543,000 after purchasing an additional 26,730 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE:SYK opened at $389.24 on Monday. The business’s fifty day moving average price is $384.79 and its two-hundred day moving average price is $377.20. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The stock has a market capitalization of $148.57 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. 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 quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share 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 firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same period in the prior year, the business posted $2.50 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is 45.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup restated a “buy” rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Truist Financial boosted their target price on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Finally, BTIG Research set a $403.00 price target on Stryker and gave the stock a “buy” rating in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $428.55.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director owned 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by company insiders.

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.