Compass Ion Advisors LLC Reduces Holdings in Stryker Co. (NYSE:SYK)

Compass Ion Advisors LLC cut its stake in Stryker Co. (NYSE:SYK) by 40.2% in the first quarter, Holdings Channel.com reports. The fund owned 5,093 shares of the medical technology company’s stock after selling 3,417 shares during the quarter. Compass Ion Advisors LLC’s holdings in Stryker were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SteelPeak Wealth LLC acquired a new stake in shares of Stryker in the 1st quarter valued at about $228,000. AMI Investment Management Inc. boosted its holdings in shares of Stryker by 8.7% in the first quarter. AMI Investment Management Inc. now owns 7,664 shares of the medical technology company’s stock valued at $2,744,000 after acquiring an additional 613 shares during the period. Waterway Wealth Management LLC acquired a new position in shares of Stryker in the 1st quarter valued at $300,000. Red Door Wealth Management LLC raised its position in Stryker by 25.7% in the 1st quarter. Red Door Wealth Management LLC now owns 856 shares of the medical technology company’s stock valued at $306,000 after purchasing an additional 175 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its stake in Stryker by 32.0% during the 1st quarter. Cornerstone Wealth Group LLC now owns 2,287 shares of the medical technology company’s stock worth $818,000 after purchasing an additional 554 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYK. Roth Mkm upped their target price on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. TD Cowen increased their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC raised Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price on the stock in a report on Wednesday, May 22nd. Piper Sandler increased their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $370.58.

Stryker Trading Down 0.1 %

NYSE:SYK opened at $340.25 on Monday. The company has a market capitalization of $129.62 billion, a PE ratio of 38.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a fifty day simple moving average of $337.38 and a 200-day simple moving average of $333.91. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period last year, the company posted $2.14 EPS. The company’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts expect that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

About Stryker

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.