Empowered Funds LLC Has $12.72 Million Stock Holdings in Stryker Corporation $SYK

Empowered Funds LLC grew its holdings in Stryker Corporation (NYSE:SYK) by 92.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,705 shares of the medical technology company’s stock after purchasing an additional 18,591 shares during the period. Empowered Funds LLC’s holdings in Stryker were worth $12,718,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Stryker during the 4th quarter worth $1,822,272,000. Auto Owners Insurance Co raised its stake in Stryker by 35,047.0% during the fourth quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock worth $1,024,444,000 after acquiring an additional 2,906,448 shares in the last quarter. Wellington Management Group LLP raised its stake in Stryker by 22.6% during the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after acquiring an additional 1,198,665 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Stryker by 104.4% in the second 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Stryker by 241.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,555,638 shares of the medical technology company’s stock valued at $511,167,000 after purchasing an additional 1,100,673 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other news, VP Robert S. Fletcher sold 4,544 shares of Stryker 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 transaction, the vice president owned 10,582 shares in the company, valued at approximately $3,247,298.34. The trade was a 30.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the sale, the director directly owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. This represents a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 323,264 shares of company stock valued at $100,659,489. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Truist Financial reaffirmed a “hold” rating and set a $330.00 price target (down from $380.00) on shares of Stryker in a report on Monday, May 4th. Needham & Company LLC dropped their price objective on shares of Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research note on Friday, May 1st. BTIG Research set a $371.00 target price on shares of Stryker in a research report on Monday, July 13th. UBS Group assumed coverage on shares of Stryker in a research note on Tuesday. They set a “buy” rating and a $400.00 target price on the stock. Finally, Evercore set a $350.00 price target on shares of Stryker in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $393.39.

Stryker Stock Performance

Stryker stock opened at $352.35 on Thursday. The business has a 50 day moving average of $316.38 and a 200-day moving average of $335.11. The company has a market capitalization of $135.08 billion, a P/E ratio of 40.78, a P/E/G ratio of 2.22 and a beta of 0.77. Stryker Corporation has a 1 year low of $281.00 and a 1 year high of $403.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25.

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

Stryker Announces Dividend

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

Stryker Company 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.