Accretive Wealth Partners LLC Invests $924,000 in Stryker Corporation (NYSE:SYK)

Key Points

• Accretive Wealth Partners LLC has invested $924,000 in Stryker Corporation, acquiring 2,447 shares during the first quarter.
• Director Ronda E. Stryker sold 200,000 shares of Stryker's stock for $75.39 million, which reduced her ownership by 5.53%.
• Stryker's stock price rose by 1.7% and the company reported a quarterly earnings of $2.84 EPS, surpassing analysts’ expectations by $0.11.

Accretive Wealth Partners LLC bought a new position in Stryker Corporation (NYSE:SYK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,447 shares of the medical technology company's stock, valued at approximately $924,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Empirical Finance LLC boosted its stake in shares of Stryker by 1.5% in the 1st quarter. Empirical Finance LLC now owns 11,596 shares of the medical technology company's stock worth $4,317,000 after buying an additional 170 shares during the last quarter. Bearing Point Capital LLC raised its holdings in shares of Stryker by 3.9% in the 1st quarter. Bearing Point Capital LLC now owns 18,855 shares of the medical technology company's stock worth $7,019,000 after purchasing an additional 702 shares during the period. Integrated Investment Consultants LLC raised its holdings in shares of Stryker by 1.4% in the 1st quarter. Integrated Investment Consultants LLC now owns 3,472 shares of the medical technology company's stock worth $1,292,000 after purchasing an additional 48 shares during the period. GLOBALT Investments LLC GA raised its holdings in shares of Stryker by 1.0% in the 1st quarter. GLOBALT Investments LLC GA now owns 19,074 shares of the medical technology company's stock worth $7,100,000 after purchasing an additional 189 shares during the period. Finally, Angeles Wealth Management LLC raised its holdings in shares of Stryker by 4.6% in the 1st quarter. Angeles Wealth Management LLC now owns 1,302 shares of the medical technology company's stock worth $485,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated 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 sale, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Up 1.7%

SYK opened at $403.34 on Friday. The company has a fifty day moving average price of $386.37 and a 200-day moving average price of $379.23. The firm has a market capitalization of $153.95 billion, a P/E ratio of 54.51, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19.

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

Stryker Announces Dividend

The company 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 0.83%. Stryker's dividend payout ratio (DPR) is currently 45.41%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SYK. Truist Financial lifted their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Roth Mkm lifted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

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.

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