Stryker Corporation (NYSE:SYK) is Bright Financial Advisors Inc.'s 6th Largest Position

Key Points

• Bright Financial Advisors Inc. has increased its stake in Stryker Corporation by 10.2%, making it the firm's 6th largest position, valued at approximately $7.2 million.
• Analysts have set a consensus price target for Stryker at $430.10, with the majority assigning it a "Moderate Buy" rating.
• Recently, Stryker's Director sold 200,000 shares at an average price of $376.45, resulting in a total transaction value of $75.29 million.

Bright Financial Advisors Inc. raised its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,382 shares of the medical technology company's stock after buying an additional 1,791 shares during the period. Stryker makes up approximately 4.4% of Bright Financial Advisors Inc.'s portfolio, making the stock its 6th largest position. Bright Financial Advisors Inc.'s holdings in Stryker were worth $7,215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its holdings in shares of Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after purchasing an additional 29 shares in the last quarter. Oakworth Capital Inc. increased its stake in Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after purchasing an additional 29 shares during the period. Strategy Asset Managers LLC increased its stake in Stryker by 1.4% in the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock valued at $794,000 after purchasing an additional 29 shares during the period. Rinkey Investments boosted its holdings in shares of Stryker by 1.1% in the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock valued at $976,000 after acquiring an additional 30 shares in the last quarter. Finally, Tritonpoint Wealth LLC boosted its holdings in Stryker by 0.7% during the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYK. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm upped their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Evercore ISI upped their target price 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. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Finally, BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of SYK stock opened at $376.50 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The stock has a market cap of $143.94 billion, a PE ratio of 49.87, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. The stock has a 50-day moving average of $386.99 and a 200-day moving average of $379.84. Stryker Corporation has a one year low of $325.37 and a one year high of $406.19.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

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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