Mission Wealth Management LP acquired a new stake in Stryker Co. (NYSE:SYK) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,041 shares of the medical technology company’s stock, valued at approximately $217,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Evolution Wealth Advisors LLC increased its stake in shares of Stryker by 64.4% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Balentine LLC bought a new position in shares of Stryker in the 1st quarter valued at $31,000. Demars Financial Group LLC bought a new position in shares of Stryker in the 2nd quarter valued at $32,000. NuWave Investment Management LLC bought a new position in shares of Stryker in the 2nd quarter valued at $35,000. Finally, Campbell Wealth Management bought a new position in shares of Stryker in the 2nd quarter valued at $45,000. 71.02% of the stock is owned by hedge funds and other institutional investors.
SYK has been the topic of several recent analyst reports. Oppenheimer reiterated a “hold” rating and issued a $215.00 price target on shares of Stryker in a research note on Friday, July 31st. Wolfe Research initiated coverage on Stryker in a research note on Friday, September 11th. They issued a “market perform” rating and a $230.00 price target on the stock. UBS Group lifted their price target on Stryker from $202.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. SVB Leerink boosted their price objective on Stryker from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Citigroup boosted their price objective on Stryker from $227.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Stryker has an average rating of “Buy” and an average target price of $219.50.
NYSE SYK opened at $224.05 on Friday. The business’s 50-day moving average price is $206.98 and its two-hundred day moving average price is $191.07. Stryker Co. has a 12 month low of $124.54 and a 12 month high of $227.39. The firm has a market capitalization of $83.98 billion, a PE ratio of 53.22, a price-to-earnings-growth ratio of 3.47 and a beta of 0.83. The company has a current ratio of 2.91, a quick ratio of 2.12 and a debt-to-equity ratio of 0.93.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.63 billion. Stryker had a return on equity of 20.53% and a net margin of 11.38%. As a group, analysts forecast that Stryker Co. will post 6.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Tuesday, September 29th. Stryker’s dividend payout ratio is 27.85%.
In other news, CEO Kevin Lobo sold 25,855 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $190.80, for a total value of $4,933,134.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.80% of the stock is owned by insiders.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices that are used in various medical specialties.
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