Stryker Corporation (NYSE:SYK) Shares Acquired by Empower Advisory Group LLC

Key Points

• Empower Advisory Group LLC significantly increased its stake in Stryker Corporation by 7,245.8%, owning 146,255 shares valued at approximately $54.4 million after acquiring an additional 144,264 shares in the first quarter.
• Stryker's stock received multiple positive ratings upgrades, with Citigroup raising its price target to $455.00 and the average target price now at $430.10, indicating a consensus of 16 buy ratings against 4 holds.
• Stryker recently reported a quarterly EPS of $3.13, exceeding expectations, with a revenue of $6.02 billion, also above analyst estimates, reflecting an **11.1%** year-over-year growth.

Empower Advisory Group LLC boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 7,245.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,255 shares of the medical technology company's stock after acquiring an additional 144,264 shares during the period. Empower Advisory Group LLC's holdings in Stryker were worth $54,443,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Elefante Mark B bought a new position in Stryker in the fourth quarter worth about $337,000. Mogy Joel R Investment Counsel Inc. lifted its holdings in Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after acquiring an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after acquiring an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Stryker in the first quarter worth about $1,840,000. Finally, Mar Vista Investment Partners LLC lifted its holdings in Stryker by 10.2% in the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after acquiring an additional 8,353 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYK. Truist Financial lifted their price target on Stryker from $410.00 to $415.00 and gave the company a "hold" rating in a report on Monday. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Citigroup reaffirmed a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. JMP Securities reaffirmed 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 research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $430.10.

Stryker Stock Down 0.1%

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

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 (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 analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.81 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Stryker Company 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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