Nwam LLC increased its stake in Stryker Co. (NYSE:SYK – Get Rating) by 80.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,322 shares of the medical technology company’s stock after purchasing an additional 1,484 shares during the period. Nwam LLC’s holdings in Stryker were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Camden National Bank bought a new stake in Stryker in the 4th quarter valued at approximately $213,000. O Shaughnessy Asset Management LLC boosted its holdings in Stryker by 29.5% during the third quarter. O Shaughnessy Asset Management LLC now owns 6,522 shares of the medical technology company’s stock worth $1,720,000 after purchasing an additional 1,487 shares during the last quarter. Rafferty Asset Management LLC grew its position in Stryker by 57.7% in the third quarter. Rafferty Asset Management LLC now owns 10,700 shares of the medical technology company’s stock valued at $2,822,000 after purchasing an additional 3,915 shares in the last quarter. Buckingham Strategic Wealth LLC lifted its position in Stryker by 14.0% during the 3rd quarter. Buckingham Strategic Wealth LLC now owns 2,253 shares of the medical technology company’s stock worth $594,000 after buying an additional 277 shares in the last quarter. Finally, AlphaCrest Capital Management LLC boosted its stake in shares of Stryker by 84.4% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 8,361 shares of the medical technology company’s stock worth $2,205,000 after buying an additional 3,826 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.
Several analysts recently issued reports on the company. Piper Sandler dropped their target price on Stryker from $315.00 to $290.00 in a report on Friday, April 29th. BTIG Research increased their price objective on Stryker from $273.00 to $278.00 in a report on Monday, April 18th. Bank of America started coverage on shares of Stryker in a research note on Tuesday, March 1st. They issued a “buy” rating for the company. Truist Financial cut their price target on shares of Stryker from $296.00 to $280.00 in a research note on Monday, May 2nd. Finally, Sanford C. Bernstein upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $288.00 to $295.00 in a research note on Wednesday, March 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $290.89.
Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The medical technology company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Stryker had a return on equity of 24.09% and a net margin of 11.56%. During the same period in the previous year, the company posted $1.93 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts expect that Stryker Co. will post 9.64 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, June 29th. Stryker’s dividend payout ratio (DPR) is currently 52.85%.
Stryker Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Stryker (SYK)
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