Midwest Capital Advisors LLC Makes New Investment in Stryker Corporation (NYSE:SYK)

Midwest Capital Advisors LLC bought a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,052 shares of the medical technology company's stock, valued at approximately $392,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Stryker by 46.2% during the fourth quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock worth $596,000 after acquiring an additional 523 shares in the last quarter. Blueshift Asset Management LLC bought a new position in Stryker during the fourth quarter valued at about $333,000. TD Private Client Wealth LLC grew its position in shares of Stryker by 4.4% in the fourth quarter. TD Private Client Wealth LLC now owns 5,157 shares of the medical technology company's stock valued at $1,857,000 after purchasing an additional 217 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in Stryker during the fourth quarter valued at about $555,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the subject of several research analyst reports. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Roth Mkm raised their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Evercore ISI lifted their price objective 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. Finally, Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was 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 owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

SYK stock opened at $388.84 on Friday. The firm has a market cap of $148.42 billion, a price-to-earnings ratio of 52.55, a PEG ratio of 2.94 and a beta of 0.91. The firm has a 50-day simple moving average of $385.67 and a two-hundred day simple moving average of $378.06. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the firm posted $2.50 EPS. Stryker's revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is 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.

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