Evernest Financial Advisors LLC Raises Stock Position in Stryker Corporation (NYSE:SYK)

Key Points

• Evernest Financial Advisors LLC increased its stake in Stryker Corporation by 20.4% in the first quarter, holding a total of 3,938 shares valued at approximately $1.47 million.
• Other institutional investors, including GAMMA Investing LLC, have significantly increased their holdings in Stryker, with GAMMA's stake surging by 43,226.8% during the same period.
• This quarter, Stryker reported $3.13 EPS, surpassing analysts' estimates, with revenue reaching $6.02 billion, marking an 11.1% increase year-over-year.

Evernest Financial Advisors LLC raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 20.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,938 shares of the medical technology company's stock after acquiring an additional 667 shares during the quarter. Evernest Financial Advisors LLC's holdings in Stryker were worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in shares of Stryker during the 4th quarter valued at $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the 1st quarter valued at $32,000. City Holding Co. grew its position in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in Stryker in the first quarter worth $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Stryker in the fourth quarter worth $42,000. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Roth Mkm upped their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a research report on Monday. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company's stock.

Stryker Trading Up 0.4%

Shares of NYSE:SYK traded up $1.36 during midday trading on Friday, hitting $377.73. 972,332 shares of the stock traded hands, compared to its average volume of 1,333,167. Stryker Corporation has a one year low of $322.03 and a one year high of $406.19. The stock has a market capitalization of $144.41 billion, a PE ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91. The business's 50 day moving average is $387.17 and its two-hundred day moving average is $380.15. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

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 for the quarter, topping 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 business's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.81 earnings per share. As a group, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

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.