Stryker Corporation (NYSE:SYK) Shares Purchased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its stake in Stryker Corporation by 74.6%, holding shares worth approximately $9.11 million after acquiring additional shares in the first quarter.
• Analysts have issued positive ratings for Stryker, with an average price target of $428.55 and sixteen analysts recommending a buy rating.
• Stryker recently announced a quarterly dividend of $0.84, resulting in an annualized dividend yield of 0.84% with a payout ratio of 45.41%.

Geneos Wealth Management Inc. lifted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 74.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,473 shares of the medical technology company's stock after buying an additional 10,455 shares during the period. Geneos Wealth Management Inc.'s holdings in Stryker were worth $9,110,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SYK. Capital A Wealth Management LLC bought a new stake in Stryker during the 4th quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter valued at approximately $32,000. City Holding Co. raised its position in 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 acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Stryker in the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker in the 4th quarter valued at about $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYK has been the subject of several research analyst reports. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a report on Monday, May 5th. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.20% of the stock is owned by insiders.

Stryker Stock Performance

Stryker stock traded down $0.30 during mid-day trading on Tuesday, reaching $400.39. The company's stock had a trading volume of 970,464 shares, compared to its average volume of 1,080,045. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $386.71 and a 200-day moving average price of $379.82. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The firm has a market cap of $152.82 billion, a price-to-earnings ratio of 54.11, a PEG ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the previous year, the firm posted $2.50 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

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.