Bank of America Corp DE Purchases 294,091 Shares of Stryker Co. (NYSE:SYK)

Bank of America Corp DE boosted its stake in Stryker Co. (NYSE:SYKGet Rating) by 14.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,381,754 shares of the medical technology company’s stock after buying an additional 294,091 shares during the quarter. Bank of America Corp DE’s holdings in Stryker were worth $636,763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Stryker by 12.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,703 shares of the medical technology company’s stock valued at $18,636,000 after buying an additional 7,851 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Stryker by 11.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 4,600 shares of the medical technology company’s stock valued at $1,230,000 after purchasing an additional 466 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Stryker by 45.9% during the 1st quarter. Ninety One UK Ltd now owns 97,692 shares of the medical technology company’s stock valued at $26,118,000 after purchasing an additional 30,745 shares during the last quarter. Midwest Wealth Management Inc. increased its position in shares of Stryker by 5.2% during the 1st quarter. Midwest Wealth Management Inc. now owns 6,403 shares of the medical technology company’s stock valued at $1,712,000 after purchasing an additional 318 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Stryker by 41.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 164 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 48 shares during the last quarter. 76.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the subject of several research analyst reports. Bank of America lowered Stryker from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, September 13th. Morgan Stanley decreased their target price on Stryker from $270.00 to $220.00 and set an “equal weight” rating for the company in a research report on Friday, July 15th. Deutsche Bank Aktiengesellschaft lowered Stryker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $285.00 to $205.00 in a report on Thursday, July 21st. Finally, Cowen decreased their price objective on Stryker from $305.00 to $233.00 and set an “outperform” rating for the company in a report on Friday, July 22nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $256.29.

Stryker Stock Down 2.4 %

Shares of NYSE SYK opened at $221.25 on Friday. Stryker Co. has a 52 week low of $188.84 and a 52 week high of $280.43. The business has a 50-day simple moving average of $211.40 and a two-hundred day simple moving average of $229.46. The company has a quick ratio of 1.15, a current ratio of 2.00 and a debt-to-equity ratio of 0.85. The company has a market cap of $83.67 billion, a P/E ratio of 40.75, a P/E/G ratio of 2.75 and a beta of 1.03.

Stryker (NYSE:SYKGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.03). Stryker had a net margin of 11.79% and a return on equity of 23.34%. During the same period in the prior year, the company posted $2.25 EPS. Research analysts anticipate that Stryker Co. will post 9.38 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.695 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 1.26%. Stryker’s dividend payout ratio (DPR) is presently 51.20%.

Stryker Company Profile

(Get Rating)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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