Western Wealth Management LLC Boosts Stock Position in Stryker Corporation (NYSE:SYK)

Western Wealth Management LLC raised its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,959 shares of the medical technology company's stock after buying an additional 1,164 shares during the quarter. Western Wealth Management LLC's holdings in Stryker were worth $1,101,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock valued at $11,773,213,000 after buying an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after buying an additional 54,693 shares during the last quarter. FMR LLC raised its stake in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares during the last quarter. Geode Capital Management LLC raised its stake in Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after buying an additional 168,436 shares during the last quarter. Finally, Norges Bank purchased a new stake in Stryker in the fourth quarter valued at about $1,710,744,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 0.4%

Stryker stock opened at $390.67 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The business's 50-day moving average price is $378.06 and its 200 day moving average price is $375.38. The firm has a market cap of $149.11 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating 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 company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the company earned $2.50 earnings per share. Stryker's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's payout ratio is currently 45.41%.

Analysts Set New Price Targets

SYK has been the subject of a number of research analyst reports. Evercore ISI decreased their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Truist Financial increased 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. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $427.30.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred 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 sale, the director now directly owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is owned by corporate insiders.

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.

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