Evexia Wealth LLC Makes New $5.86 Million Investment in Stryker Corporation $SYK

Key Points

• Evexia Wealth LLC opened a new position in Stryker, buying 16,050 shares worth about $5.86 million, representing 1.8% of its portfolio and the firm's 22nd largest holding.
• Director Ronda E. Stryker sold 250,000 shares at an average price of $362.92 for roughly $90.73 million, a 9.23% cut to her stake; company insiders now own about 5.9% of the stock.
• Analysts rate Stryker a consensus "Moderate Buy" (14 Buys, 5 Holds) with an average price target of $428.61 and recent targets ranging up to $454.00.

Evexia Wealth LLC acquired a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,050 shares of the medical technology company's stock, valued at approximately $5,857,000. Stryker accounts for 1.8% of Evexia Wealth LLC's portfolio, making the stock its 22nd largest holding.

Several other large investors have also made changes to their positions in the business. Clayton Financial Group LLC purchased a new position in shares of Stryker during the third quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker in the second quarter valued at $28,000. Kilter Group LLC purchased a new stake in Stryker in the second quarter valued at $29,000. Howard Hughes Medical Institute acquired a new stake in Stryker during the 2nd quarter worth about $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Stryker during the 3rd quarter worth about $34,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SYK shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Stryker in a report on Monday, December 22nd. Evercore set a $390.00 target price on Stryker in a report on Monday, January 5th. Needham & Company LLC lifted their price target on Stryker from $448.00 to $454.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Truist Financial decreased their price target on Stryker from $400.00 to $392.00 and set a "hold" rating for the company in a report on Thursday, December 18th. Finally, Citizens Jmp raised shares of Stryker from a "market perform" rating to an "outperform" rating and set a $440.00 price objective on the stock in a research note on Friday, December 19th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $428.61.

Stryker Trading Down 1.7%

Shares of Stryker stock opened at $364.11 on Friday. The firm has a 50-day simple moving average of $365.45 and a two-hundred day simple moving average of $369.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a market cap of $139.34 billion, a P/E ratio of 43.35, a price-to-earnings-growth ratio of 2.16 and a beta of 0.85.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts' consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period last year, the firm earned $4.01 EPS. The company's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker's dividend payout ratio (DPR) is presently 41.90%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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