Inceptionr LLC Makes New $1.31 Million Investment in Stryker Corporation $SYK

Key Points

• Inceptionr LLC opened a new position in Stryker, acquiring 3,530 shares valued at approximately $1.31 million in Q3, and several other funds also added to their stakes; institutional investors now own about 77.09% of the company.
• Director Ronda E. Stryker sold 250,000 shares at an average price of $362.92 for a total of $90.73 million, reducing her ownership by 9.23%; insiders collectively hold 5.20% of the stock.
• Stryker carries a consensus analyst rating of Moderate Buy with a price target of $428.61, recently beat Q earnings estimates (EPS $4.47 vs. $4.40) and declared a quarterly dividend of $0.88 (1.0% yield, ex-dividend March 31).

Inceptionr LLC acquired a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,530 shares of the medical technology company's stock, valued at approximately $1,305,000.

Several other large investors have also modified their holdings of the stock. Davis R M Inc. grew its stake in Stryker by 1.8% during the 3rd quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company's stock worth $51,285,000 after buying an additional 2,512 shares during the last quarter. Terra Alpha Investments LLC acquired a new position in Stryker during the third quarter worth approximately $1,216,000. Diversified Trust Co lifted its stake in Stryker by 45.6% in the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company's stock valued at $4,601,000 after buying an additional 3,899 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Stryker in the second quarter valued at approximately $4,785,000. Finally, AXQ Capital LP acquired a new stake in shares of Stryker in the second quarter valued at approximately $567,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYK. Wells Fargo & Company lifted their target price on shares of Stryker from $452.00 to $456.00 and gave the company an "overweight" rating in a report on Friday, November 14th. Citigroup restated a "market outperform" rating on shares of Stryker in a research note on Friday, January 30th. The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a report on Friday, January 9th. Needham & Company LLC increased their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Piper Sandler reissued an "overweight" rating on shares of Stryker in a report on Tuesday, January 27th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $428.61.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm's stock in a transaction dated Wednesday, February 4th. The shares were 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 owned 2,457,331 shares in the company, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by insiders.

Stryker Stock Performance

NYSE:SYK opened at $364.11 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The firm has a market cap of $139.34 billion, a price-to-earnings ratio of 43.35, a price-to-earnings-growth ratio of 2.13 and a beta of 0.85. The firm's fifty day moving average price is $365.45 and its 200 day moving average price is $368.84. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts' consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the firm earned $4.01 EPS. Stryker's quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. 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 is currently 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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