Advisors Capital Management LLC Purchases 1,689 Shares of Stryker Corporation $SYK

Advisors Capital Management LLC lifted its position in shares of Stryker Corporation (NYSE:SYK) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,624 shares of the medical technology company’s stock after buying an additional 1,689 shares during the quarter. Advisors Capital Management LLC’s holdings in Stryker were worth $23,150,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Norges Bank bought a new position in Stryker in the second quarter worth approximately $1,882,173,000. Alliancebernstein L.P. raised its position in shares of Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares in the last quarter. ABN AMRO Bank N.V. purchased a new stake in shares of Stryker during the 2nd quarter worth $191,047,000. Finally, Vanguard Group Inc. boosted its position in Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The SEC filing for this sale provides additional information. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SYK has been the subject of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. Wells Fargo & Company boosted their price objective on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a research note on Tuesday, January 6th. Finally, The Goldman Sachs Group set a $399.00 price target on Stryker in a research note on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $426.94.

Stryker Stock Up 0.8%

Shares of SYK stock opened at $369.13 on Wednesday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The firm has a market capitalization of $141.26 billion, a PE ratio of 43.94, a P/E/G ratio of 2.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The stock’s 50-day simple moving average is $358.66 and its 200-day simple moving average is $368.87.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the company posted $4.01 earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Stryker Profile

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.