Stryker Corporation (NYSE:SYK) Shares Purchased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in Stryker Corporation by 4.6%, owning 22,242 shares valued at approximately $8.28 million after purchasing an additional 969 shares.
• Analysts have set new price targets for Stryker, with Roth Mkm raising their target from $405 to $456, and the company currently holds a consensus rating of "Moderate Buy" with an average price target of $428.55.
• Director Ronda E. Stryker sold 200,000 shares at an average price of $376.96, reducing her ownership by 5.53% with a total holding now worth approximately $1.29 billion.

Avantax Advisory Services Inc. raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,242 shares of the medical technology company's stock after buying an additional 969 shares during the period. Avantax Advisory Services Inc.'s holdings in Stryker were worth $8,280,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Davis Rea LTD. lifted its position in shares of Stryker by 17.5% during the first quarter. Davis Rea LTD. now owns 35,596 shares of the medical technology company's stock worth $13,281,000 after purchasing an additional 5,295 shares in the last quarter. Journey Strategic Wealth LLC acquired a new position in shares of Stryker during the first quarter worth $231,000. Advisor OS LLC lifted its position in shares of Stryker by 17.8% during the first quarter. Advisor OS LLC now owns 775 shares of the medical technology company's stock worth $288,000 after purchasing an additional 117 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its position in shares of Stryker by 2.1% during the first quarter. Argonautica Private Wealth Management Inc. now owns 7,968 shares of the medical technology company's stock worth $2,966,000 after purchasing an additional 163 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of Stryker by 79.1% during the first quarter. Carnegie Investment Counsel now owns 204,544 shares of the medical technology company's stock worth $72,988,000 after purchasing an additional 90,360 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SYK. Roth Mkm lifted 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. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday, May 5th. 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. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $428.55.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the company'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 owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.90% of the stock is owned by insiders.

Stryker Stock Performance

Shares of SYK opened at $403.34 on Friday. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market cap of $153.95 billion, a price-to-earnings ratio of 54.51, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The firm has a fifty day moving average of $386.37 and a 200-day moving average of $379.33.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.83%. The ex-dividend date is Monday, June 30th. Stryker's payout ratio is currently 45.41%.

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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.