Advisors Capital Management LLC Raises Holdings in Stryker Corporation $SYK

Advisors Capital Management LLC increased its position in Stryker Corporation (NYSE:SYK) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,624 shares of the medical technology company’s stock after buying an additional 1,689 shares during the period. Advisors Capital Management LLC’s holdings in Stryker were worth $23,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Maridea Wealth Management LLC purchased a new position in Stryker during the 3rd quarter valued at approximately $280,000. NEOS Investment Management LLC boosted its position in shares of Stryker by 38.5% during the 3rd quarter. NEOS Investment Management LLC now owns 42,290 shares of the medical technology company’s stock valued at $15,633,000 after acquiring an additional 11,760 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Stryker by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after acquiring an additional 272,828 shares during the last quarter. Texas Yale Capital Corp. grew its holdings in shares of Stryker by 0.8% in the third quarter. Texas Yale Capital Corp. now owns 9,083 shares of the medical technology company’s stock valued at $3,358,000 after purchasing an additional 70 shares in the last quarter. Finally, Phillips Wealth Planners LLC raised its stake in Stryker by 10.1% during the third quarter. Phillips Wealth Planners LLC now owns 788 shares of the medical technology company’s stock valued at $289,000 after purchasing an additional 72 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYK. Sanford C. Bernstein lifted their price objective on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Truist Financial lowered their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Robert W. Baird set a $437.00 price objective on Stryker in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $426.94.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is currently owned by insiders.

Stryker Stock Up 0.8%

Shares of NYSE SYK opened at $369.13 on Wednesday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The firm has a 50-day simple moving average of $358.66 and a two-hundred day simple moving average of $368.87. The company has a market cap of $141.26 billion, a P/E ratio of 43.94, a PEG ratio of 2.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the firm posted $4.01 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is 41.90%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.