Signal Advisors Wealth LLC Increases Stake in Stryker Co. (NYSE:SYK)

Signal Advisors Wealth LLC lifted its stake in Stryker Co. (NYSE:SYK) by 6.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,238 shares of the medical technology company’s stock after buying an additional 133 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Stryker were worth $833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Elefante Mark B purchased a new position in Stryker during the 4th quarter valued at approximately $337,000. Appleton Partners Inc. MA grew its holdings in shares of Stryker by 5.0% in the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after purchasing an additional 1,561 shares in the last quarter. Fred Alger Management LLC increased its position in Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company’s stock worth $8,664,000 after purchasing an additional 19,356 shares during the last quarter. Finally, US Bancorp DE raised its stake in Stryker by 0.5% during the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock valued at $65,829,000 after purchasing an additional 976 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYK. Citigroup reissued a “buy” rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday. BTIG Research set a $403.00 target price on Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Stock Up 0.3%

Shares of NYSE:SYK opened at $384.15 on Friday. The business’s 50 day moving average is $370.10 and its 200 day moving average is $376.03. The stock has a market cap of $146.63 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. Sell-side analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is 45.41%.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 5.90% of the company’s stock.

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.