Hemington Wealth Management Buys 42 Shares of Stryker Corporation (NYSE:SYK)

Hemington Wealth Management lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 466 shares of the medical technology company’s stock after purchasing an additional 42 shares during the period. Hemington Wealth Management’s holdings in Stryker were worth $173,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Continuum Advisory LLC lifted its holdings in shares of Stryker by 5.8% during the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company’s stock worth $198,000 after purchasing an additional 29 shares during the period. Oakworth Capital Inc. lifted its holdings in shares of Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company’s stock worth $2,283,000 after purchasing an additional 29 shares during the period. Rinkey Investments lifted its holdings in shares of Stryker by 1.1% during the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company’s stock worth $976,000 after purchasing an additional 30 shares during the period. Tritonpoint Wealth LLC lifted its holdings in shares of Stryker by 0.7% during the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company’s stock worth $1,508,000 after purchasing an additional 30 shares during the period. Finally, Cornerstone Advisory LLC lifted its holdings in shares of Stryker by 0.6% during the fourth quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company’s stock worth $2,024,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 0.1%

NYSE:SYK opened at $381.04 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a 50-day moving average of $387.49 and a 200-day moving average of $380.36. The company has a market cap of $145.68 billion, a PE ratio of 50.47, a PEG ratio of 2.78 and a beta of 0.91. Stryker Corporation has a one year low of $316.01 and a one year high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the prior year, the firm posted $2.81 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 30th. Stryker’s dividend payout ratio is presently 44.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research reiterated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Truist Financial boosted their target price on shares of Stryker from $410.00 to $415.00 and gave the company a “hold” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $430.10.

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.