AXS Investments LLC Has $3.29 Million Position in Stryker Corporation (NYSE:SYK)

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 lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,827 shares of the medical technology company's stock after acquiring an additional 1,062 shares during the quarter. Stryker accounts for 0.9% of AXS Investments LLC's investment portfolio, making the stock its 24th largest position. AXS Investments LLC's holdings in Stryker were worth $3,286,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after buying an additional 361,136 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Stryker by 13.1% during 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 buying an additional 261,058 shares in the last quarter. Planning Alternatives Ltd. ADV acquired a new stake in Stryker during the 1st quarter worth approximately $201,000. West Michigan Advisors LLC increased its position in shares of Stryker by 2.4% in the 1st quarter. West Michigan Advisors LLC now owns 8,884 shares of the medical technology company's stock valued at $3,315,000 after purchasing an additional 209 shares during the last quarter. Finally, Associated Banc Corp increased its position in shares of Stryker by 6.5% in the 1st quarter. Associated Banc Corp now owns 22,262 shares of the medical technology company's stock valued at $8,287,000 after purchasing an additional 1,368 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on SYK. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Evercore ISI increased their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Needham & Company LLC increased their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Stock Up 0.4%

Shares of NYSE SYK traded up $1.36 during mid-day trading on Friday, reaching $377.73. The company had a trading volume of 972,332 shares, compared to its average volume of 1,333,167. The stock has a fifty day moving average of $387.17 and a two-hundred day moving average of $380.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market capitalization of $144.41 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 12-month low of $322.03 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the company posted $2.81 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.90% of the company's stock.

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.