RWA Wealth Partners LLC Increases Stake in Stryker Corporation $SYK

RWA Wealth Partners LLC boosted its holdings in shares of Stryker Corporation (NYSE:SYK) by 196.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,313 shares of the medical technology company’s stock after buying an additional 15,456 shares during the quarter. RWA Wealth Partners LLC’s holdings in Stryker were worth $8,618,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Stryker in the second quarter valued at $1,882,173,000. Alliancebernstein L.P. grew its stake in Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. ABN AMRO Bank N.V. purchased a new stake in Stryker during the 2nd quarter worth about $191,047,000. Finally, Vanguard Group Inc. raised its position in Stryker by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SYK shares. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a research note on Tuesday, January 6th. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a report on Friday, December 19th. Wells Fargo & Company increased their price objective on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Finally, Evercore set a $390.00 target price on shares of Stryker in a research note on Monday, January 5th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.47.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $384.16 on Thursday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The firm has a market capitalization of $147.02 billion, a P/E ratio of 45.73, a P/E/G ratio of 2.23 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. The company’s fifty day moving average price is $361.87 and its 200 day moving average price is $369.02.

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

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 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.