Cetera Investment Advisers Grows Stock Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• Cetera Investment Advisers increased its stake in Stryker Corporation by 4.8% in Q1, now holding 96,797 shares valued at approximately $36 million.
• Several research analysts have upgraded Stryker's stock ratings, with Evercore ISI increasing the price target to $415 and a consensus rating of "Moderate Buy" as analysts project an earnings per share of 13.47 for the current year.
• Insider Ronda E. Stryker sold 200,000 shares at an average price of $376.96, reducing her ownership by 5.53% but still retaining over 3.4 million shares valued at approximately $1.29 billion.

Cetera Investment Advisers raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,797 shares of the medical technology company's stock after acquiring an additional 4,446 shares during the quarter. Cetera Investment Advisers' holdings in Stryker were worth $36,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Stryker by 0.5% in the fourth 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 purchasing an additional 54,693 shares during the period. FMR LLC increased its stake in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Geode Capital Management LLC increased its stake in Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after acquiring an additional 168,436 shares during the last quarter. Northern Trust Corp increased its stake in Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after acquiring an additional 420,153 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Trading Down 0.8%

Shares of Stryker stock traded down $3.10 during trading on Monday, reaching $400.43. 888,445 shares of the stock were exchanged, compared to its average volume of 1,442,356. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The stock's fifty day moving average is $386.37 and its 200 day moving average is $379.44. The firm has a market cap of $152.84 billion, a price-to-earnings ratio of 54.11, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the prior year, the business posted $2.50 earnings per share. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.84%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated 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 $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYK. Citigroup reissued a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Evercore ISI upped their price target 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. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Finally, Truist Financial upped their price target 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. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.