Stryker Corporation (NYSE:SYK) Shares Bought by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its stake in Stryker Corporation by 26.2%, now owning 3,726 shares valued at approximately $1,387,000.
• Stryker reported a Q2 earnings per share (EPS) of $3.13, beating estimates, with revenue of $6.02 billion, up 11.1% from the previous year.
• The company declared a quarterly dividend of $0.84 per share, resulting in an annualized yield of 0.9%, with a payout ratio of 44.50%.

New Age Alpha Advisors LLC raised its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 26.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,726 shares of the medical technology company's stock after purchasing an additional 774 shares during the quarter. New Age Alpha Advisors LLC's holdings in Stryker were worth $1,387,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SYK. Capital A Wealth Management LLC acquired a new position in Stryker in the fourth quarter valued at $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker during the first quarter worth about $32,000. City Holding Co. increased its stake in shares of 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 position in shares of Stryker during the first quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Stryker during the fourth quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE:SYK opened at $376.21 on Friday. The business's fifty day moving average price is $387.27 and its two-hundred day moving average price is $380.27. The stock has a market cap of $143.83 billion, a PE ratio of 49.83, a price-to-earnings-growth ratio of 2.72 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 $320.78 and a one year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations 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 firm earned $2.81 EPS. On average, analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 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 0.9%. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYK. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Evercore ISI boosted their price target 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. Roth Mkm boosted their price target 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. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a research note on Monday. Finally, BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $430.10.

Insider Buying and Selling

In other Stryker 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 sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.90% of the company's stock.

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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