Aptus Capital Advisors LLC Buys 8,272 Shares of Stryker Corporation $SYK

Key Points

• Aptus Capital Advisors LLC increased its stake in Stryker Corporation by 8.9%, acquiring an additional 8,272 shares, bringing their total holdings to 100,987 shares valued at approximately $37.6 million.
• Stryker's latest earnings report showed an EPS of $3.13, surpassing analysts' estimates, and the company reported quarterly revenue of $6.02 billion, an increase of 11.1% year-over-year.
• The stock received multiple upgrades from analysts, with Wells Fargo and Roth MKM raising their price targets, contributing to a consensus price target of $430.10 and an overall rating of "Moderate Buy."

Aptus Capital Advisors LLC lifted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 8.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,987 shares of the medical technology company's stock after purchasing an additional 8,272 shares during the period. Aptus Capital Advisors LLC's holdings in Stryker were worth $37,592,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SYK. Capital A Wealth Management LLC acquired a new stake in Stryker during the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new position in Stryker during the 1st quarter worth $32,000. City Holding Co. lifted its holdings in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Stryker during the 1st quarter worth $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker during the 4th quarter worth $42,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SYK has been the topic of several research reports. Wells Fargo & Company upped their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. BTIG Research reiterated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm upped their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC upped their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Stock Performance

Shares of NYSE:SYK opened at $381.87 on Monday. The company's 50 day simple moving average is $386.78 and its 200 day simple moving average is $379.44. The stock has a market capitalization of $145.99 billion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

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

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.20% of the stock is owned by corporate insiders.

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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