HighTower Advisors LLC Raises Stock Position in Stryker Corporation (NYSE:SYK)

HighTower Advisors LLC grew its holdings in Stryker Corporation (NYSE:SYK) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 439,332 shares of the medical technology company’s stock after acquiring an additional 7,000 shares during the period. HighTower Advisors LLC owned about 0.12% of Stryker worth $163,541,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after acquiring an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Stryker by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after purchasing an additional 54,693 shares in the last quarter. Northern Trust Corp grew its holdings in Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock valued at $1,298,426,000 after purchasing an additional 420,153 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $430.10.

Stryker Trading Down 0.2%

Shares of NYSE:SYK opened at $376.75 on Tuesday. The company has a market cap of $144.04 billion, a PE ratio of 49.90, a P/E/G ratio of 2.74 and a beta of 0.91. The company’s 50-day moving average price is $387.08 and its 200 day moving average price is $379.86. Stryker Corporation has a fifty-two week low of $323.73 and a fifty-two week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $2.81 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

Stryker 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.