Rialto Wealth Management LLC Grows Holdings in Stryker Co. (NYSE:SYK)

Rialto Wealth Management LLC boosted its position in Stryker Co. (NYSE:SYK) by 1.4% in the first quarter, HoldingsChannel reports. The firm owned 3,393 shares of the medical technology company’s stock after buying an additional 47 shares during the quarter. Rialto Wealth Management LLC’s holdings in Stryker were worth $1,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Vanguard Group Inc. grew its position in Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after buying an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after acquiring an additional 54,693 shares during the last quarter. FMR LLC boosted its stake in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Stryker by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after acquiring an additional 168,436 shares during the period. Finally, Norges Bank purchased a new stake in shares of Stryker during the 4th quarter worth approximately $1,710,744,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. Evercore ISI dropped their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Finally, JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $427.30.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’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 now directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.90% of the stock is owned by insiders.

Stryker Stock Performance

Stryker stock opened at $380.80 on Tuesday. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $145.35 billion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The firm’s 50 day simple moving average is $369.04 and its 200 day simple moving average is $376.02.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the business posted $2.50 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

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.