Sage Mountain Advisors LLC Boosts Position in Stryker Corporation (NYSE:SYK)

Sage Mountain Advisors LLC increased its stake in Stryker Corporation (NYSE:SYK) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,740 shares of the medical technology company’s stock after buying an additional 52 shares during the period. Sage Mountain Advisors LLC’s holdings in Stryker were worth $648,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Capital A Wealth Management LLC purchased a new position in Stryker during the 4th quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new position in Stryker during the 1st quarter valued at about $32,000. City Holding Co. increased its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. VSM Wealth Advisory LLC purchased a new position in Stryker during the 4th quarter valued at about $36,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Stryker during the 1st quarter valued at about $40,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial raised their target price on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Roth Mkm raised their target price on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Finally, Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $428.55.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were 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 directly owned 3,417,326 shares in the company, valued at $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 SEC, which is available at this hyperlink. 5.20% of the stock is owned by corporate insiders.

Stryker Trading Down 0.2%

NYSE:SYK opened at $390.80 on Wednesday. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a fifty day simple moving average of $385.25 and a 200-day simple moving average of $377.46. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $149.16 billion, a P/E ratio of 52.81, a PEG ratio of 2.95 and a beta of 0.91.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker’s dividend payout ratio is presently 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.