Wahed Invest LLC Takes $1.28 Million Position in Stryker Co. (NYSE:SYK)

Wahed Invest LLC acquired a new position in shares of Stryker Co. (NYSE:SYK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,465 shares of the medical technology company’s stock, valued at approximately $1,275,000.

Several other institutional investors also recently modified their holdings of the stock. Stratos Wealth Advisors LLC increased its holdings in shares of Stryker by 1.0% in the 1st quarter. Stratos Wealth Advisors LLC now owns 3,632 shares of the medical technology company’s stock worth $1,037,000 after buying an additional 37 shares during the last quarter. Perigon Wealth Management LLC raised its position in Stryker by 1.5% during the first quarter. Perigon Wealth Management LLC now owns 2,500 shares of the medical technology company’s stock valued at $714,000 after purchasing an additional 37 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in shares of Stryker by 2.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 1,609 shares of the medical technology company’s stock worth $393,000 after purchasing an additional 38 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Stryker by 2.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,606 shares of the medical technology company’s stock valued at $438,000 after buying an additional 39 shares in the last quarter. Finally, Stockman Wealth Management Inc. lifted its position in Stryker by 3.0% in the 1st quarter. Stockman Wealth Management Inc. now owns 1,370 shares of the medical technology company’s stock worth $391,000 after buying an additional 40 shares during the last quarter. 76.24% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at $2,021,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SYK. Bank of America upgraded shares of Stryker from a “neutral” rating to a “buy” rating and increased their price target for the company from $310.00 to $315.00 in a research report on Tuesday, September 5th. Truist Financial increased their target price on shares of Stryker from $300.00 to $310.00 in a report on Wednesday, July 19th. Morgan Stanley upped their price target on shares of Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Barclays lifted their price objective on Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $309.59.

Stryker Stock Performance

SYK traded up $10.08 during midday trading on Monday, hitting $299.62. 652,512 shares of the company traded hands, compared to its average volume of 1,288,027. The company’s 50-day moving average is $286.97 and its 200 day moving average is $284.72. Stryker Co. has a 52 week low of $200.80 and a 52 week high of $306.93. The firm has a market capitalization of $113.79 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 2.79 and a beta of 0.95. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.16. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Stryker had a return on equity of 22.31% and a net margin of 13.92%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 EPS. On average, research analysts expect that Stryker Co. will post 10.37 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, September 28th. Stryker’s payout ratio is 42.37%.

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 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.