Adero Partners LLC Takes $230,000 Position in Stryker Co. (NYSE:SYK)

Adero Partners LLC acquired a new stake in Stryker Co. (NYSE:SYKFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 767 shares of the medical technology company’s stock, valued at approximately $230,000.

A number of other hedge funds also recently made changes to their positions in SYK. Keybank National Association OH increased its position in shares of Stryker by 3.5% during the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after purchasing an additional 952 shares in the last quarter. Carnegie Capital Asset Management LLC grew its holdings in Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after acquiring an additional 497 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Stryker during the 4th quarter worth about $1,561,000. CoreCap Advisors LLC grew its holdings in Stryker by 3.9% during the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after acquiring an additional 191 shares during the last quarter. Finally, Consolidated Planning Corp bought a new position in shares of Stryker in the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of several recent research reports. Robert W. Baird raised their target price on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their target price on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Barclays lifted their price objective on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a research note on Wednesday, May 22nd. Finally, BTIG Research lifted their price objective on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $370.58.

Read Our Latest Research Report on SYK

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.2 %

Shares of NYSE SYK traded up $0.57 during midday trading on Friday, reaching $341.09. The company’s stock had a trading volume of 2,175,319 shares, compared to its average volume of 1,348,204. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The stock has a market capitalization of $129.94 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 2.69 and a beta of 0.91. The stock has a 50 day simple moving average of $338.39 and a 200-day simple moving average of $326.36.

Stryker (NYSE:SYKGet Free Report) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.14 earnings per share. Equities research analysts predict that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. Stryker’s dividend payout ratio (DPR) is 36.53%.

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.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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