Arkadios Wealth Advisors Raises Position in Stryker Corporation (NYSE:SYK)

Key Points

• Arkadios Wealth Advisors significantly increased its stake in Stryker Corporation by 495.9% in the first quarter, now owning 4,052 shares valued at approximately $1.51 million.
• Director Ronda E. Stryker sold 200,000 shares for around $75.39 million, reducing her ownership by 5.53%, and insiders currently own 5.90% of the company's stock.
• Stryker's recent earnings report showed revenue growth of 11.1% year-over-year, with earnings per share (EPS) of $3.13, surpassing analysts' expectations.

Arkadios Wealth Advisors increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 495.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,052 shares of the medical technology company's stock after acquiring an additional 3,372 shares during the period. Arkadios Wealth Advisors' holdings in Stryker were worth $1,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. GAMMA Investing LLC increased its holdings in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the period. FMR LLC increased its holdings in Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Stryker during the fourth quarter valued at approximately $154,140,000. Northern Trust Corp lifted its position in Stryker by 13.2% during 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 purchasing an additional 420,153 shares during the last quarter. Finally, APG Asset Management N.V. lifted its position in Stryker by 1,695.0% during the fourth quarter. APG Asset Management N.V. now owns 370,226 shares of the medical technology company's stock valued at $128,730,000 after purchasing an additional 349,601 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Stock Down 1.3%

SYK traded down $4.78 during trading on Wednesday, reaching $376.08. The stock had a trading volume of 860,732 shares, compared to its average volume of 1,445,927. The stock's 50 day moving average is $387.49 and its two-hundred day moving average is $380.36. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $143.78 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker Corporation has a one year low of $319.07 and a one year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during 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%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.81 earnings per share. As a group, analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on SYK shares. Evercore ISI lifted their target price 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. Wells Fargo & Company increased their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Roth Mkm increased their target price on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Stryker has an average rating of "Moderate Buy" and an average 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.