Kestra Private Wealth Services LLC Raises Position in Stryker Corporation $SYK

Key Points

• Kestra Private Wealth Services LLC raised its stake in Stryker by 18.7% in Q4, adding 4,178 shares to hold 26,576 shares valued at about $9.34 million.
• Director Ronda E. Stryker sold 250,000 shares (≈$90.73 million) on Feb. 4; insiders now own 4.60% of the company while institutional investors hold roughly 77.09%.
• Stryker has a consensus rating of Moderate Buy with an average target of $421.11 versus a recent share price near $329, and its latest quarter beat EPS and revenue estimates with revenue up 11.4% year-over-year.

Kestra Private Wealth Services LLC increased its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 18.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,576 shares of the medical technology company's stock after buying an additional 4,178 shares during the period. Kestra Private Wealth Services LLC's holdings in Stryker were worth $9,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Corient Private Wealth LLC raised its position in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock worth $887,525,000 after buying an additional 1,146,998 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock worth $2,342,987,000 after buying an additional 741,542 shares in the last quarter. Strive Asset Management LLC purchased a new stake in shares of Stryker in the third quarter worth $227,389,000. Credit Agricole S A purchased a new stake in shares of Stryker in the third quarter worth $194,045,000. Finally, Pictet Asset Management Holding SA raised its position in shares of Stryker by 190.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 466,256 shares of the medical technology company's stock worth $163,878,000 after buying an additional 305,640 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent analyst reports. Citigroup lowered their price objective on Stryker from $420.00 to $385.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. UBS Group lowered their price objective on Stryker from $400.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 17th. Piper Sandler reiterated an "overweight" rating on shares of Stryker in a research report on Tuesday, January 27th. Needham & Company LLC raised 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. Finally, Evercore set a $390.00 price target on Stryker in a research report on Monday, January 5th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $421.11.

Stryker Trading Up 0.5%

NYSE SYK opened at $329.09 on Tuesday. The stock's 50-day simple moving average is $349.03 and its two-hundred day simple moving average is $357.85. Stryker Corporation has a twelve month low of $319.32 and a twelve month high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $126.04 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 1.92 and a beta of 0.92.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating analysts' consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $4.01 earnings per share. Research analysts forecast that Stryker Corporation will post 14.91 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker's payout ratio is currently 41.90%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction dated 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 transaction, the director owned 2,457,331 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 4.60% of the company's stock.

About Stryker

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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