Commonwealth Equity Services LLC Buys 7,214 Shares of Stryker Corporation (NYSE:SYK)

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 grew its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Continuum Advisory LLC increased its stake in Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after acquiring an additional 29 shares during the last quarter. Oakworth Capital Inc. raised its holdings in shares of Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after acquiring an additional 29 shares in the last quarter. Rinkey Investments raised its holdings in shares of Stryker by 1.1% during the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after acquiring an additional 30 shares in the last quarter. Tritonpoint Wealth LLC raised its holdings in shares of Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after acquiring an additional 30 shares in the last quarter. Finally, Cornerstone Advisory LLC raised its holdings in shares of Stryker by 0.6% during the 4th quarter. Cornerstone Advisory LLC now owns 5,256 shares of the medical technology company's stock worth $2,024,000 after acquiring an additional 31 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company's stock.

Stryker Trading Up 0.4%

Stryker stock traded up $1.36 during mid-day trading on Friday, hitting $377.73. The company's stock had a trading volume of 972,332 shares, compared to its average volume of 1,333,167. The company has a 50 day moving average of $387.17 and a 200-day moving average of $380.15. The stock has a market cap of $144.41 billion, a PE ratio of 50.03, a P/E/G ratio of 2.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a one year low of $322.03 and a one year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.81 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYK. Truist Financial set a $415.00 price objective on Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Finally, Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus price target of $430.10.

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.