Stryker Corporation (NYSE:SYK) Shares Purchased by Lyell Wealth Management LP

Key Points

• Lyell Wealth Management LP increased its stake in Stryker Corporation by 9.6%, owning 37,141 shares valued at approximately $13.83 million following the acquisition of an additional 3,260 shares.
• Stryker's quarterly earnings surpassed estimates with an EPS of $2.84 and revenue of $5.87 billion, marking an 11.9% year-over-year increase.
• The company announced a quarterly dividend of $0.84, representing an annualized yield of 0.84%, with an upcoming ex-dividend date on June 30th.

Lyell Wealth Management LP boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,141 shares of the medical technology company's stock after acquiring an additional 3,260 shares during the period. Stryker comprises 1.3% of Lyell Wealth Management LP's investment portfolio, making the stock its 23rd biggest holding. Lyell Wealth Management LP's holdings in Stryker were worth $13,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $32,000. City Holding Co. boosted its holdings in shares of Stryker by 528.6% in 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 during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

Shares of SYK traded down $14.11 on Friday, reaching $378.62. The stock had a trading volume of 3,012,250 shares, compared to its average volume of 1,156,084. The firm has a market capitalization of $144.52 billion, a PE ratio of 50.15, a PEG ratio of 2.91 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average of $387.46 and a 200 day moving average of $380.30. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 24.12% and a net margin of 12.25%. The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.81 EPS. Sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $0.84 dividend. The ex-dividend date was Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's dividend payout ratio is currently 45.41%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction 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. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday. BTIG Research reissued a "buy" rating on shares of Stryker in a report on Monday, July 14th. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Four 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.com, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $429.35.

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.