Dynamic Advisor Solutions LLC Takes Position in Stryker Co. (NYSE:SYK)

Dynamic Advisor Solutions LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,388 shares of the medical technology company’s stock, valued at approximately $2,378,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at about $26,000. Rakuten Securities Inc. increased its position in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department bought a new position in shares of Stryker in the fourth quarter worth approximately $33,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

NYSE:SYK opened at $377.05 on Tuesday. The firm has a market cap of $143.91 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business has a 50 day moving average price of $373.53 and a 200-day moving average price of $375.55.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the firm posted $2.50 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Analysts Set New Price Targets

Several research analysts recently weighed in on SYK shares. BTIG Research set a $403.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research report on Monday, April 14th. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup restated a “buy” rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by insiders.

Stryker Company Profile

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.