R Squared Ltd Acquires New Stake in Stryker Corporation $SYK

R Squared Ltd bought a new stake in Stryker Corporation (NYSE:SYK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,028 shares of the medical technology company’s stock, valued at approximately $1,489,000. Stryker comprises approximately 0.6% of R Squared Ltd’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds also recently modified their holdings of the company. Clayton Financial Group LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC acquired a new position in Stryker in the 2nd quarter valued at $28,000. Kilter Group LLC purchased a new position in shares of Stryker during the 2nd quarter worth $29,000. Howard Hughes Medical Institute acquired a new stake in shares of Stryker during the second quarter worth $29,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Stryker in the third quarter valued at $34,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on SYK shares. UBS Group raised their price target on Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Truist Financial lowered their target price 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. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Finally, Barclays reiterated an “overweight” rating and issued a $469.00 price target on shares of Stryker in a report on Monday, February 2nd. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.47.

Stryker Trading Up 0.5%

Shares of SYK stock opened at $386.04 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The firm’s 50 day moving average price is $362.53 and its two-hundred day moving average price is $369.14. The stock has a market cap of $147.73 billion, a price-to-earnings ratio of 45.96, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87.

Stryker (NYSE:SYK) last issued 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 net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the firm posted $4.01 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is 41.90%.

Insider Activity at Stryker

In related 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 transaction of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.90% of the company’s stock.

About Stryker

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.