Gateway Wealth Partners LLC Invests $789,000 in Stryker Corporation $SYK

Gateway Wealth Partners LLC acquired a new position in shares of Stryker Corporation (NYSE:SYK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,401 shares of the medical technology company’s stock, valued at approximately $789,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sankala Group LLC acquired a new position in Stryker during the 4th quarter worth $26,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Stryker in the fourth quarter valued at about $26,000. United Financial Planning Group LLC bought a new position in shares of Stryker in the third quarter worth about $27,000. Atlas Capital Advisors Inc. bought a new position in shares of Stryker in the fourth quarter worth about $27,000. Finally, DJE Kapital AG acquired a new position in shares of Stryker during the 4th quarter worth about $28,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on SYK. Needham & Company LLC decreased their target price on Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Barclays cut their price target on Stryker from $469.00 to $394.00 and set an “overweight” rating for the company in a report on Monday, May 4th. BMO Capital Markets started coverage on Stryker in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $369.00 price objective for the company. The Goldman Sachs Group restated a “neutral” rating and issued a $361.00 price objective on shares of Stryker in a research note on Friday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of Stryker from $456.00 to $418.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $393.39.

Stryker Stock Up 1.7%

SYK stock opened at $352.35 on Thursday. The business’s 50-day simple moving average is $316.38 and its 200 day simple moving average is $335.11. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The company has a market cap of $135.08 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.22 and a beta of 0.77. Stryker Corporation has a twelve month low of $281.00 and a twelve month high of $403.22.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the prior year, the business posted $2.84 EPS. Stryker’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Stryker Corporation will post 14.99 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker’s dividend payout ratio (DPR) is 40.74%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the sale, the director owned 1,924,880 shares in the company, valued at $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert S. Fletcher sold 4,544 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the completion of the sale, the vice president directly owned 10,582 shares in the company, valued at $3,247,298.34. This trade represents a 30.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 323,264 shares of company stock valued at $100,659,489 over the last ninety days. 4.60% of the stock is owned by company insiders.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.