J.W. Cole Advisors Inc. Boosts Stake in Stryker Corporation (NYSE:SYK)

J.W. Cole Advisors Inc. increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 196.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,822 shares of the medical technology company's stock after buying an additional 8,497 shares during the period. J.W. Cole Advisors Inc.'s holdings in Stryker were worth $4,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in Stryker during the 4th quarter worth $26,000. Goodman Advisory Group LLC acquired a new position in Stryker during the 1st quarter valued at about $32,000. City Holding Co. boosted its stake in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in Stryker during the 1st quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Down 0.5%

NYSE SYK traded down $1.82 during trading on Monday, hitting $387.58. 791,681 shares of the company traded hands, compared to its average volume of 1,349,256. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market capitalization of $147.94 billion, a P/E ratio of 31.08, a PEG ratio of 2.94 and a beta of 0.91. The business has a fifty day simple moving average of $385.67 and a 200 day simple moving average of $378.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the business earned $2.50 EPS. Stryker's revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current 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 dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is currently 45.41%.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SYK shares. Citigroup reiterated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Truist Financial lifted their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average target price of $428.55.

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.