SteelPeak Wealth LLC Makes New $228,000 Investment in Stryker Co. (NYSE:SYK)

SteelPeak Wealth LLC acquired a new stake in shares of Stryker Co. (NYSE:SYK) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 635 shares of the medical technology company’s stock, valued at approximately $228,000.

A number of other large investors have also modified their holdings of the company. Logan Capital Management Inc. boosted its position in shares of Stryker by 19.6% during the 3rd quarter. Logan Capital Management Inc. now owns 3,064 shares of the medical technology company’s stock valued at $837,000 after acquiring an additional 503 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Stryker in the 3rd quarter valued at approximately $1,467,000. Truist Financial Corp raised its holdings in shares of Stryker by 16.3% in the 3rd quarter. Truist Financial Corp now owns 132,369 shares of the medical technology company’s stock worth $36,172,000 after buying an additional 18,598 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Stryker by 17.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 20,107 shares of the medical technology company’s stock worth $5,495,000 after buying an additional 2,998 shares during the period. Finally, Axxcess Wealth Management LLC acquired a new stake in Stryker in the 3rd quarter valued at $340,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Stryker stock opened at $340.25 on Monday. The firm has a market capitalization of $129.62 billion, a P/E ratio of 38.84, a PEG ratio of 2.68 and a beta of 0.89. The business has a 50-day moving average of $337.38 and a 200-day moving average of $333.91. 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 issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the firm earned $2.14 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given 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 is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYK. Evercore ISI lifted their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group began coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. Barclays boosted their target price on Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Citigroup raised their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Needham & Company LLC raised Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $370.58.

Stryker Company 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.