N.E.W. Advisory Services LLC Makes New $188,000 Investment in Stryker Corporation (NYSE:SYK)

N.E.W. Advisory Services LLC acquired a new position in shares of Stryker Corporation (NYSE:SYK) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 504 shares of the medical technology company’s stock, valued at approximately $188,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Continuum Advisory LLC grew its holdings in Stryker by 5.8% during the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company’s stock worth $198,000 after acquiring an additional 29 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company’s stock valued at $2,283,000 after buying an additional 29 shares during the period. Rinkey Investments boosted its holdings in shares of Stryker by 1.1% in the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company’s stock valued at $976,000 after buying an additional 30 shares during the period. Tritonpoint Wealth LLC boosted its holdings in shares of Stryker by 0.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company’s stock valued at $1,508,000 after buying an additional 30 shares during the period. Finally, Cornerstone Advisory LLC boosted its holdings in shares of Stryker by 0.6% in the 4th quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company’s stock valued at $2,024,000 after buying an additional 31 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 0.1%

SYK stock opened at $400.39 on Wednesday. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a market capitalization of $152.82 billion, a price-to-earnings ratio of 54.11, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The firm’s 50-day moving average is $386.71 and its two-hundred day moving average is $379.82. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

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

Stryker Announces Dividend

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 issued 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 0.84%. Stryker’s payout ratio is currently 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on SYK. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a report on Monday, July 14th. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Truist Financial lifted their price target on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a report on Monday, May 5th. Finally, Citigroup reissued a “buy” rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $428.55.

Stryker 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.