Bridgewater Advisors Inc. Makes New $682,000 Investment in Stryker Corporation (NYSE:SYK)

Bridgewater Advisors Inc. acquired a new position in shares of Stryker Corporation (NYSE:SYK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,838 shares of the medical technology company’s stock, valued at approximately $682,000.

Other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in Stryker during the 4th quarter worth $26,000. Goodman Advisory Group LLC purchased a new position in Stryker during the 1st quarter worth $32,000. City Holding Co. boosted its holdings in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Stryker during the 4th quarter worth $36,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker during the 1st quarter worth $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Stryker Trading Down 0.2%

Shares of SYK opened at $390.80 on Wednesday. The business’s 50-day moving average price is $385.25 and its 200-day moving average price is $377.46. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The stock has a market cap of $149.16 billion, a PE ratio of 52.81, a P/E/G ratio of 2.95 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same period in the prior year, the business posted $2.50 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SYK shares. Roth Mkm lifted their target price on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Citigroup reiterated a “buy” rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Finally, Truist Financial upped their price target on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $428.55.

Stryker Company 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.