Capital Advisors Ltd. LLC boosted its holdings in Stryker Co. (NYSE:SYK – Get Rating) by 24.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,576 shares of the medical technology company’s stock after acquiring an additional 314 shares during the period. Capital Advisors Ltd. LLC’s holdings in Stryker were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Stryker in the fourth quarter valued at approximately $816,519,000. AustralianSuper Pty Ltd bought a new position in shares of Stryker in the 1st quarter valued at $295,397,000. First Trust Advisors LP raised its holdings in shares of Stryker by 6,917.1% during the 4th quarter. First Trust Advisors LP now owns 703,744 shares of the medical technology company’s stock worth $188,195,000 after buying an additional 693,715 shares in the last quarter. State Street Corp boosted its stake in Stryker by 3.0% in the fourth quarter. State Street Corp now owns 13,911,036 shares of the medical technology company’s stock valued at $3,729,638,000 after buying an additional 402,204 shares in the last quarter. Finally, Invesco Ltd. grew its position in Stryker by 27.2% in the fourth quarter. Invesco Ltd. now owns 1,733,027 shares of the medical technology company’s stock valued at $463,446,000 after acquiring an additional 371,008 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SYK. Truist Financial raised their price target on shares of Stryker to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Edward Jones upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. TheStreet downgraded shares of Stryker from a “b” rating to a “c+” rating in a research report on Monday, May 2nd. Piper Sandler decreased their target price on shares of Stryker from $290.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Finally, Robert W. Baird decreased their price objective on shares of Stryker from $297.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $256.00.
Stryker Stock Performance
Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The medical technology company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.03). Stryker had a net margin of 11.79% and a return on equity of 23.34%. During the same quarter in the prior year, the company earned $2.25 EPS. On average, sell-side analysts anticipate that Stryker Co. will post 9.38 EPS for the current fiscal year.
Stryker Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Thursday, September 29th. Stryker’s payout ratio is 51.20%.
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.
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