Global Assets Advisory LLC Buys 4,864 Shares of Stryker Corporation (NYSE:SYK)

Global Assets Advisory LLC boosted its stake in Stryker Corporation (NYSE:SYK) by 188.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,446 shares of the medical technology company’s stock after buying an additional 4,864 shares during the period. Global Assets Advisory LLC’s holdings in Stryker were worth $2,665,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SYK. Vanguard Group Inc. grew its stake in shares of Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after acquiring an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Stryker by 0.5% in 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 during the period. FMR LLC grew its position in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after purchasing an additional 168,436 shares during the period. Finally, Norges Bank acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $1,710,744,000. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SYK. BTIG Research set a $403.00 price objective on Stryker and gave the stock a “buy” rating in a research note on Monday, April 14th. Truist Financial upped their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a report on Friday, March 21st. Evercore ISI cut their price target on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $427.30.

Stryker Stock Performance

Stryker stock opened at $386.80 on Wednesday. The business has a 50 day moving average of $376.26 and a 200-day moving average of $375.19. The company has a market capitalization of $147.64 billion, a P/E ratio of 52.27, a P/E/G ratio of 2.86 and a beta of 0.91. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

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

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’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 now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.20% of the company’s stock.

About Stryker

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.