EverSource Wealth Advisors LLC Grows Stake in Stryker Co. (NYSE:SYK)

EverSource Wealth Advisors LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 67.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,273 shares of the medical technology company’s stock after acquiring an additional 513 shares during the period. EverSource Wealth Advisors LLC’s holdings in Stryker were worth $429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in Stryker during the 4th quarter worth approximately $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker in the 1st quarter worth $341,049,000. JPMorgan Chase & Co. lifted its stake in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SYK. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday. Wells Fargo & Company upped their price objective on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Truist Financial cut their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday. Roth Mkm raised their target price on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Piper Sandler increased their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $373.11.

Insider Buying and Selling

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK traded down $1.61 during trading hours on Friday, hitting $331.56. The stock had a trading volume of 1,738,648 shares, compared to its average volume of 1,432,445. The stock has a fifty day moving average price of $338.87 and a 200 day moving average price of $339.61. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.99. The firm has a market capitalization of $126.35 billion, a PE ratio of 37.85, a PEG ratio of 2.57 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts anticipate that Stryker Co. will post 11.99 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is 36.53%.

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.