Fiduciary Family Office LLC Takes $635,000 Position in Stryker Corporation (NYSE:SYK)

Key Points

• Fiduciary Family Office LLC acquired a new stake in Stryker Corporation during the first quarter, purchasing 1,706 shares valued at approximately $635,000.
• Stryker's most recent quarterly earnings showed earnings per share (EPS) of $3.13, exceeding analyst expectations by $0.06, and revenue of $6.02 billion, marking an 11.1% year-over-year increase.
• The company plans to pay a quarterly dividend of $0.84 on October 31st, translating to an annualized dividend yield of 0.9%.

Fiduciary Family Office LLC purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,706 shares of the medical technology company's stock, valued at approximately $635,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in 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 buying an additional 609 shares in the last quarter. DRW Securities LLC bought a new position in Stryker during the 4th quarter valued at $256,000. Legacy Financial Advisors Inc. boosted its stake in Stryker by 20.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,099 shares of the medical technology company's stock valued at $396,000 after purchasing an additional 187 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in Stryker by 116.6% during the 4th quarter. Kennedy Capital Management LLC now owns 9,753 shares of the medical technology company's stock valued at $3,512,000 after purchasing an additional 5,251 shares in the last quarter. Finally, First Foundation Advisors boosted its stake in Stryker by 6.2% during the 4th quarter. First Foundation Advisors now owns 804 shares of the medical technology company's stock valued at $289,000 after purchasing an additional 47 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company increased their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Citigroup reissued a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company's stock.

Stryker Stock Down 0.2%

NYSE SYK traded down $0.83 during trading on Monday, hitting $376.75. 1,128,000 shares of the company traded hands, compared to its average volume of 1,340,536. Stryker Corporation has a 12 month low of $323.73 and a 12 month high of $406.19. The business has a fifty day simple moving average of $387.08 and a 200 day simple moving average of $379.86. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $144.04 billion, a P/E ratio of 49.90, a PEG ratio of 2.74 and a beta of 0.91.

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

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. 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.