Founders Financial Alliance LLC Takes Position in Stryker Corporation (NYSE:SYK)

Key Points

• Founders Financial Alliance LLC acquired a new stake in Stryker Corporation, purchasing 1,111 shares valued at approximately $414,000 during the first quarter.
• Stryker Corporation's quarterly earnings report revealed earnings per share of $3.13, beating estimates, with revenue increases of 11.1% year-over-year.
• The company has declared a quarterly dividend of $0.84 per share, which will be paid to shareholders on October 31st, indicating a 0.9% yield.

Founders Financial Alliance LLC bought a new stake in Stryker Corporation (NYSE:SYK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,111 shares of the medical technology company's stock, valued at approximately $414,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Capital A Wealth Management LLC purchased a new position in Stryker during the 4th quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new position in Stryker during the 1st quarter worth $32,000. City Holding Co. raised 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 buying an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Stryker in the first quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker in the fourth quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Stryker stock traded down $0.83 during midday trading on Monday, hitting $376.75. The company's stock had a trading volume of 1,128,000 shares, compared to its average volume of 1,340,536. The company has a 50-day moving average price of $387.17 and a two-hundred day moving average price of $379.98. The company has a market cap of $144.04 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 2.74 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 $323.73 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during 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 for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.81 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is presently 44.50%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research analyst reports. Evercore ISI increased their price target 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. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Roth Mkm raised their target price 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. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

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.