Sequoia Financial Advisors LLC Has $1.26 Million Holdings in Stryker Co. (NYSE:SYK)

Posted by Defense World Staff on Jul 11th, 2023

Sequoia Financial Advisors LLC raised its holdings in shares of Stryker Co. (NYSE:SYK – Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,410 shares of the medical technology company’s stock after buying an additional 245 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Stryker were worth $1,259,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Freedom Wealth Alliance LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $26,000. Elequin Securities LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $29,000. MADDEN SECURITIES Corp bought a new stake in shares of Stryker during the fourth quarter valued at approximately $29,000. Arcus Capital Partners LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $30,000. Finally, Align Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $25,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other Stryker 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 value of $286,000.00. Following the transaction, the director now owns 5,967 shares of the company’s stock, valued at $1,706,562. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Stryker news, Director Srikant M. Datar sold 500 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $278.50, for a total value of $139,250.00. Following the completion of the sale, the director now directly owns 5,467 shares in the company, valued at $1,522,559.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $286,000.00. Following the completion of the sale, the director now owns 5,967 shares of the company’s stock, valued at $1,706,562. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Stryker from $288.00 to $315.00 in a research report on Tuesday, May 2nd. Canaccord Genuity Group reiterated a “hold” rating and issued a $250.00 price target on shares of Stryker in a research report on Tuesday, March 28th. Barclays upped their price target on Stryker from $314.00 to $321.00 in a research report on Tuesday, May 2nd. Robert W. Baird upped their price target on Stryker from $287.00 to $315.00 in a research report on Tuesday, May 2nd. Finally, Truist Financial upped their price target on Stryker from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $302.00.

Stryker Trading Up 0.4 %

Shares of SYK opened at $295.30 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.73 and a debt-to-equity ratio of 0.70. Stryker Co. has a 12-month low of $188.84 and a 12-month high of $306.93. The firm has a market capitalization of $111.87 billion, a PE ratio of 42.98, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96. The stock’s fifty day simple moving average is $287.27 and its 200-day simple moving average is $276.19.

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

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, June 29th. Stryker’s payout ratio is 43.67%.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.