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Wealthfront Advisers LLC Acquires 2,236 Shares of Stryker Corporation (NYSE:SYK)

Stryker logo with Medical background

Wealthfront Advisers LLC increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,700 shares of the medical technology company's stock after acquiring an additional 2,236 shares during the quarter. Wealthfront Advisers LLC's holdings in Stryker were worth $13,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Brighton Jones LLC lifted its stake in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares during the period. Proficio Capital Partners LLC lifted its stake in Stryker by 46.2% in the fourth quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock valued at $596,000 after buying an additional 523 shares during the period. GWN Securities Inc. acquired a new position in Stryker in the fourth quarter valued at approximately $231,000. Creative Financial Designs Inc. ADV lifted its stake in Stryker by 25.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 398 shares of the medical technology company's stock valued at $143,000 after buying an additional 81 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Stryker by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 15,712 shares of the medical technology company's stock valued at $5,657,000 after buying an additional 300 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on SYK shares. Needham & Company LLC reissued a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Evercore ISI boosted their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Truist Financial boosted their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Citigroup restated a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of "Moderate Buy" and an average target price of $428.55.

View Our Latest Stock Report on Stryker

Stryker Stock Up 0.4%

Stryker stock traded up $1.49 during trading on Friday, hitting $390.39. 243,720 shares of the company were exchanged, compared to its average volume of 1,348,261. The business's 50 day moving average is $385.51 and its 200 day moving average is $377.73. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a market capitalization of $149.01 billion, a P/E ratio of 52.80, a PEG ratio of 2.95 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

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, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the company posted $2.50 earnings per share. Stryker's revenue was up 11.9% compared to the same quarter last year. Analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker's dividend payout ratio (DPR) is currently 45.41%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Stryker Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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