Apollon Wealth Management LLC Buys 15,116 Shares of Stryker Corporation (NYSE:SYK)

Apollon Wealth Management LLC boosted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 181.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,447 shares of the medical technology company's stock after buying an additional 15,116 shares during the quarter. Apollon Wealth Management LLC's holdings in Stryker were worth $8,728,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new position in shares of Stryker in the 4th quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new position in Stryker during the first quarter worth about $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $36,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm'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 transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.20% of the company's stock.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. 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 research note on Monday, May 5th. Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm boosted their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Evercore ISI boosted their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $428.55.

Stryker Price Performance

NYSE:SYK opened at $389.24 on Monday. The firm has a market cap of $148.57 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company's 50-day moving average is $384.79 and its two-hundred day moving average is $377.20. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data 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 for 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 company's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 EPS. Research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's payout ratio is currently 45.41%.

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.

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