First Trust Advisors LP Grows Holdings in Stryker Co. (NYSE:SYK)

Posted by Defense World Staff on May 26th, 2023

First Trust Advisors LP lifted its holdings in Stryker Co. (NYSE:SYK – Get Rating) by 242.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,600 shares of the medical technology company’s stock after buying an additional 21,663 shares during the quarter. First Trust Advisors LP’s holdings in Stryker were worth $7,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Align Wealth Management LLC purchased a new stake in shares of Stryker in the 4th quarter worth about $25,000. MADDEN SECURITIES Corp bought a new position in Stryker during the 4th quarter valued at about $29,000. Arcus Capital Partners LLC bought a new position in Stryker during the 4th quarter valued at about $30,000. Beirne Wealth Consulting Services LLC bought a new position in Stryker during the 4th quarter valued at about $30,000. Finally, Hollencrest Capital Management bought a new position in Stryker during the 4th quarter valued at about $32,000. 77.10% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 0.1 %

Shares of NYSE:SYK opened at $272.40 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.73 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average of $286.87 and a two-hundred day moving average of $263.02. The stock has a market cap of $103.19 billion, a P/E ratio of 39.65, a PEG ratio of 2.85 and a beta of 0.94. Stryker Co. has a 52-week low of $188.84 and a 52-week high of $306.56.

Stryker (NYSE:SYK – Get Rating) last released its quarterly earnings results on Monday, May 1st. The medical technology company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.14. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Stryker had a return on equity of 22.17% and a net margin of 13.86%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.97 EPS. On average, research analysts expect that Stryker Co. will post 10.16 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 29th. Stryker’s dividend payout ratio is presently 43.67%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays upped their target price on shares of Stryker from $314.00 to $321.00 in a research note on Tuesday, May 2nd. Stifel Nicolaus increased their price objective on shares of Stryker from $280.00 to $330.00 in a report on Tuesday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Stryker from $285.00 to $315.00 in a report on Tuesday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Stryker from $260.00 to $292.00 in a research report on Tuesday, May 2nd. Finally, Morgan Stanley lifted their target price on Stryker from $260.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.00.

Insider Transactions at Stryker

In related news, Director Srikant M. Datar sold 1,000 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $286.00, for a total transaction of $286,000.00. Following the transaction, the director now owns 5,967 shares of the company’s stock, valued at approximately $1,706,562. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Srikant M. Datar sold 1,000 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $286.00, for a total transaction of $286,000.00. Following the transaction, the director now owns 5,967 shares of the company’s stock, valued at approximately $1,706,562. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 5,459 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $263.27, for a total value of $1,437,190.93. Following the completion of the sale, the director now directly owns 13,537 shares in the company, valued at approximately $3,563,885.99. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Company Profile

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Stryker Corp. is a medical technology company, which engages in the provision of innovative products and services that help improve patient and healthcare outcomes. It operates under the MedSurg and Neurotechnology, and Orthopaedics and Spine segments. The MedSurg and Neurotechnology segment includes surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment, intensive care disposable products, clinical communication, workflow solutions, products for the treatment of acute ischemic and hemorrhagic stroke, traditional brain, and open skull based surgical procedures, orthobiologic, and biosurgery.