Harold Davidson & Associates Inc. Buys 2,538 Shares of Stryker Corporation $SYK

Harold Davidson & Associates Inc. raised its stake in Stryker Corporation (NYSE:SYK) by 41.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,687 shares of the medical technology company’s stock after purchasing an additional 2,538 shares during the period. Stryker accounts for 1.5% of Harold Davidson & Associates Inc.’s holdings, making the stock its 17th biggest holding. Harold Davidson & Associates Inc.’s holdings in Stryker were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SYK. Clayton Financial Group LLC acquired a new stake in Stryker in the third quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Stryker in the 2nd quarter worth $28,000. Kilter Group LLC acquired a new stake in Stryker in the 2nd quarter valued at $29,000. Howard Hughes Medical Institute bought a new stake in Stryker during the 2nd quarter valued at $29,000. Finally, MTM Investment Management LLC acquired a new position in Stryker during the second quarter worth $38,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction 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 $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYK. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target for the company in a research note on Tuesday, January 6th. Truist Financial lowered their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a report on Monday, January 26th. Finally, Sanford C. Bernstein increased their price target on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $426.94.

Stryker Stock Performance

Shares of SYK opened at $377.08 on Thursday. The stock has a 50 day moving average of $359.13 and a 200 day moving average of $368.93. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a market capitalization of $144.30 billion, a price-to-earnings ratio of 44.89, a PEG ratio of 2.16 and a beta of 0.87.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.01 EPS. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 0.9%. Stryker’s payout ratio is currently 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.