Advisors Preferred LLC Makes New $1.61 Million Investment in Stryker Corporation (NYSE:SYK)

Advisors Preferred LLC purchased a new position in Stryker Corporation (NYSE:SYK - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,300 shares of the medical technology company's stock, valued at approximately $1,605,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after acquiring an additional 609 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Stryker in the 4th quarter worth about $660,000. CoreFirst Bank & Trust acquired a new stake in shares of Stryker in the 4th quarter worth about $245,000. Modern Wealth Management LLC increased its holdings in shares of Stryker by 197.6% in the 4th quarter. Modern Wealth Management LLC now owns 2,845 shares of the medical technology company's stock worth $1,117,000 after acquiring an additional 1,889 shares during the period. Finally, TD Asset Management Inc. increased its holdings in shares of Stryker by 7.0% in the 4th quarter. TD Asset Management Inc. now owns 1,264,686 shares of the medical technology company's stock worth $455,350,000 after acquiring an additional 82,306 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director owned 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of NYSE:SYK traded up $6.68 on Friday, hitting $403.34. The stock had a trading volume of 963,567 shares, compared to its average volume of 1,155,846. The firm's 50 day moving average price is $386.37 and its 200-day moving average price is $379.23. The company has a market capitalization of $153.95 billion, a price-to-earnings 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 quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.83%. Stryker's dividend payout ratio is currently 45.41%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI increased their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Citigroup reissued a "buy" rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Truist Financial lifted their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. 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 assigned a buy rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $428.55.

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.