Stryker Corporation (NYSE:SYK) Holdings Raised by AXS Investments LLC

Key Points

• AXS Investments LLC increased its holdings in Stryker Corporation by 13.7%, owning a total of 8,827 shares worth approximately $3.29 million.
• The stock has received a consensus rating of "Moderate Buy" with an average target price of $430.10 from analysts, including upgrades from several firms.
• Stryker recently announced a quarterly dividend of $0.84 per share, yielding 0.9%, and reported a revenue increase of 11.1% year-over-year, reaching $6.02 billion.

AXS Investments LLC grew its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 13.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,827 shares of the medical technology company's stock after purchasing an additional 1,062 shares during the period. Stryker comprises 0.9% of AXS Investments LLC's portfolio, making the stock its 24th largest holding. AXS Investments LLC's holdings in Stryker were worth $3,286,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SYK. Vanguard Group Inc. increased its holdings in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after acquiring an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Stryker by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after acquiring an additional 54,693 shares during the period. Northern Trust Corp lifted its position in shares of Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after acquiring an additional 420,153 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after acquiring an additional 261,058 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SYK shares. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Truist Financial raised their price target on Stryker from $410.00 to $415.00 and gave the company a "hold" rating in a report on Monday. Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a 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 MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Stryker Stock Performance

SYK opened at $381.04 on Wednesday. The business has a fifty day simple moving average of $387.49 and a 200 day simple moving average of $380.36. The company has a market capitalization of $145.68 billion, a PE ratio of 50.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Corporation has a 1 year low of $316.01 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

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 (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.81 EPS. Research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, June 30th. Stryker's dividend payout ratio is presently 44.50%.

Stryker Profile

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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