EverSource Wealth Advisors LLC Acquires 48 Shares of Stryker Co. (NYSE:SYK)

EverSource Wealth Advisors LLC boosted its position in shares of Stryker Co. (NYSE:SYKGet Rating) by 41.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 164 shares of the medical technology company’s stock after purchasing an additional 48 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Stryker were worth $44,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vigilant Capital Management LLC lifted its holdings in Stryker by 9.6% during the 1st quarter. Vigilant Capital Management LLC now owns 458 shares of the medical technology company’s stock worth $122,000 after buying an additional 40 shares in the last quarter. Capital City Trust Co. FL lifted its holdings in Stryker by 3.4% during the 1st quarter. Capital City Trust Co. FL now owns 1,200 shares of the medical technology company’s stock worth $321,000 after buying an additional 40 shares in the last quarter. Evergreen Wealth Solutions LLC lifted its holdings in Stryker by 2.9% during the 1st quarter. Evergreen Wealth Solutions LLC now owns 1,414 shares of the medical technology company’s stock worth $378,000 after buying an additional 40 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Stryker by 1.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,448 shares of the medical technology company’s stock valued at $654,000 after purchasing an additional 42 shares during the period. Finally, Carolinas Wealth Consulting LLC lifted its stake in shares of Stryker by 3.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 1,533 shares of the medical technology company’s stock valued at $411,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 76.44% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of analyst reports. Bank of America downgraded Stryker from a “buy” rating to a “neutral” rating in a research note on Monday, July 11th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, September 13th. Edward Jones raised Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Robert W. Baird lowered their price objective on shares of Stryker from $297.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Finally, Piper Sandler upped their price objective on shares of Stryker from $250.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.29.

Stryker Price Performance

SYK stock opened at $221.25 on Friday. The stock has a 50-day moving average price of $211.40 and a two-hundred day moving average price of $229.46. The stock has a market cap of $83.67 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.75 and a beta of 1.03. The company has a current ratio of 2.00, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. Stryker Co. has a 1 year low of $188.84 and a 1 year high of $280.43.

Stryker (NYSE:SYKGet Rating) last released its 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 return on equity of 23.34% and a net margin of 11.79%. During the same period in the prior year, the firm posted $2.25 EPS. Equities analysts forecast that Stryker Co. will post 9.38 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a $0.695 dividend. This represents a $2.78 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, September 29th. Stryker’s payout ratio is 51.20%.

About Stryker

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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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