Avidian Wealth Solutions LLC Has $853,000 Stock Holdings in Stryker Co. (NYSE:SYK)

Avidian Wealth Solutions LLC increased its position in Stryker Co. (NYSE:SYK) by 33.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,385 shares of the medical technology company’s stock after buying an additional 604 shares during the period. Avidian Wealth Solutions LLC’s holdings in Stryker were worth $853,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Mediolanum International Funds Ltd bought a new position in Stryker in the 1st quarter valued at about $18,694,000. Larson Financial Group LLC lifted its position in shares of Stryker by 1.6% during the 1st quarter. Larson Financial Group LLC now owns 10,577 shares of the medical technology company’s stock worth $3,785,000 after buying an additional 171 shares in the last quarter. AA Financial Advisors LLC bought a new position in shares of Stryker during the 1st quarter worth approximately $1,292,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Stryker by 38.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after buying an additional 5,502 shares in the last quarter. Finally, United Community Bank lifted its position in shares of Stryker by 46.3% during the 1st quarter. United Community Bank now owns 916 shares of the medical technology company’s stock worth $328,000 after buying an additional 290 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK traded up $1.77 during mid-day trading on Wednesday, reaching $337.34. 725,633 shares of the stock traded hands, compared to its average volume of 1,285,529. The firm has a fifty day moving average price of $337.27 and a 200 day moving average price of $335.94. The company has a market cap of $128.51 billion, a price-to-earnings ratio of 38.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.89. 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 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the firm posted $2.14 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, 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. Stockholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. TD Cowen lifted their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Evercore ISI lowered their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group began coverage on shares of Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $370.32.

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.