Stryker Corporation (NYSE:SYK) Shares Bought by Westover Capital Advisors LLC

Westover Capital Advisors LLC grew its position in shares of Stryker Corporation (NYSE:SYK) by 75.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,165 shares of the medical technology company’s stock after purchasing an additional 500 shares during the quarter. Westover Capital Advisors LLC’s holdings in Stryker were worth $434,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SYK. Brighton Jones LLC boosted its stake 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 worth $1,643,000 after acquiring an additional 609 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Stryker by 31.2% in the fourth quarter. UniSuper Management Pty Ltd now owns 21,501 shares of the medical technology company’s stock worth $7,741,000 after buying an additional 5,117 shares during the period. AssuredPartners Investment Advisors LLC acquired a new stake in shares of Stryker in the fourth quarter worth $407,000. Providence Capital Advisors LLC acquired a new stake in shares of Stryker in the fourth quarter worth $4,902,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Stryker in the fourth quarter worth $1,063,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

NYSE SYK opened at $403.34 on Friday. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The stock’s 50-day moving average is $386.37 and its two-hundred day moving average is $379.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The firm has a market cap of $153.95 billion, a P/E ratio of 54.51, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

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

Stryker Announces Dividend

The firm 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 $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.83%. Stryker’s payout ratio is presently 45.41%.

Analysts Set New Price Targets

SYK has been the subject of several recent analyst reports. Truist Financial raised their target price on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Citigroup reissued a “buy” rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Roth Mkm lifted their price objective on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $428.55.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 directly owned 3,417,326 shares in the company, 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 SEC, which is accessible through this hyperlink. 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.