Bridgewater Advisors Inc. Makes New Investment in Stryker Corporation (NYSE:SYK)
by Renee Jackson · The Cerbat GemBridgewater Advisors Inc. bought a new position in Stryker Corporation (NYSE:SYK – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,838 shares of the medical technology company’s stock, valued at approximately $682,000.
Several other hedge funds and other institutional investors have also bought and sold shares of SYK. Capital A Wealth Management LLC purchased a new stake in Stryker in the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new stake in Stryker in the first quarter worth approximately $32,000. City Holding Co. boosted its stake in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in Stryker in the fourth quarter worth approximately $36,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Insider Transactions at Stryker
In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated 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 owned 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is currently owned by insiders.
Stryker Stock Performance
Shares of Stryker stock opened at $390.80 on Wednesday. The business has a fifty day simple moving average of $385.25 and a two-hundred day simple moving average of $377.46. The firm has a market capitalization of $149.16 billion, a P/E ratio of 52.81, a P/E/G ratio of 2.95 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19.
Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 EPS. On average, equities analysts forecast 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, 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 0.86%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is 45.41%.
Wall Street Analyst Weigh In
SYK has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. BTIG Research reissued a “buy” rating on shares of Stryker in a research note on Monday. Needham & Company LLC reissued a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Evercore ISI increased their price objective on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Finally, Truist Financial increased their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $428.55.
Check Out Our Latest Report on Stryker
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.
Read More
- Five stocks we like better than Stryker
- How to Invest in Insurance Companies: A Guide
- JPMorgan Q2 Results Affirm Dividend, Buybacks, & Growth
- Using the MarketBeat Dividend Tax Calculator
- Goldman Spotlights These 3 Stocks in Its Bullish S&P 500 Outlook
- Profitably Trade Stocks at 52-Week Highs
- Fastenal Surges After Earnings Beat, Tariff Risks Loom
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK – Free Report).