Stryker Corporation (NYSE:SYK) Shares Bought by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its stake in Stryker Corporation by 4.5%, owning 166,711 shares valued at approximately $62 million as of its latest SEC filing.
• Analyst ratings for Stryker are predominantly positive, with Citigroup and Roth Mkm raising their price targets to $455.00 and $456.00, respectively, both maintaining a "buy" rating.
• Stryker recently reported earnings of $3.13 per share, exceeding expectations, along with a quarterly revenue of $6.02 billion, marking an 11.1% increase from the previous year.

Commonwealth Equity Services LLC lifted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,711 shares of the medical technology company's stock after buying an additional 7,214 shares during the period. Commonwealth Equity Services LLC's holdings in Stryker were worth $62,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in Stryker during the 4th quarter worth $26,000. Goodman Advisory Group LLC bought a new position in shares of Stryker during the first quarter worth about $32,000. City Holding Co. raised its stake in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in Stryker during the first quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the topic of several analyst reports. Citigroup restated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Roth Mkm raised their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Evercore ISI raised their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Stock Performance

NYSE:SYK opened at $381.24 on Tuesday. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $145.51 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The firm has a 50-day moving average price of $387.55 and a 200 day moving average price of $380.36.

Stryker (NYSE:SYK - Get Free Report) last issued 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 firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period in the prior year, the firm earned $2.81 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, June 30th. Stryker's dividend payout ratio is currently 44.50%.

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.

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