Stryker Co. (NYSE:SYK) Holdings Trimmed by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lowered its position in shares of Stryker Co. (NYSE:SYK) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,603 shares of the medical technology company’s stock after selling 244 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Stryker were worth $2,721,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SYK. Quadrature Capital Ltd purchased a new stake in shares of Stryker during the third quarter valued at $1,467,000. Truist Financial Corp lifted its holdings in shares of Stryker by 16.3% during the third quarter. Truist Financial Corp now owns 132,369 shares of the medical technology company’s stock valued at $36,172,000 after purchasing an additional 18,598 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Stryker by 17.5% during the third quarter. Advisors Asset Management Inc. now owns 20,107 shares of the medical technology company’s stock valued at $5,495,000 after purchasing an additional 2,998 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter valued at $340,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Stryker by 14.4% during the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after purchasing an additional 194,715 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. UBS Group increased their price objective on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler increased their price objective on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. BTIG Research increased their price objective on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group initiated coverage on Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $370.32.

Stryker Stock Performance

Shares of NYSE SYK opened at $332.07 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The firm has a market cap of $126.50 billion, a price-to-earnings ratio of 37.91, a P/E/G ratio of 2.63 and a beta of 0.89. The business’s 50-day simple moving average is $337.55 and its 200-day simple moving average is $334.50. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.14 EPS. As a group, equities research analysts expect that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

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.