2,401 Shares in Stryker Corporation $SYK Acquired by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC purchased a new stake in Stryker Corporation (NYSE:SYK) during the 1st quarter, HoldingsChannel reports. The fund purchased 2,401 shares of the medical technology company’s stock, valued at approximately $789,000.

Other large investors have also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp grew its holdings in shares of Stryker by 25.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,766 shares of the medical technology company’s stock worth $5,838,000 after purchasing an additional 3,598 shares during the last quarter. Van Diest Capital LLC bought a new position in Stryker during the 1st quarter valued at about $420,000. Waverly Advisors LLC boosted its position in Stryker by 3.7% in the first quarter. Waverly Advisors LLC now owns 45,828 shares of the medical technology company’s stock valued at $15,059,000 after buying an additional 1,627 shares in the last quarter. Sustainable Insight Capital Management LLC bought a new stake in Stryker during the first quarter worth about $221,000. Finally, Dai ichi Life Insurance Company Ltd increased its holdings in shares of Stryker by 5.4% during the first quarter. Dai ichi Life Insurance Company Ltd now owns 13,721 shares of the medical technology company’s stock worth $4,509,000 after buying an additional 700 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

SYK stock opened at $352.35 on Thursday. The company has a 50 day moving average price of $316.38 and a 200 day moving average price of $335.11. Stryker Corporation has a fifty-two week low of $281.00 and a fifty-two week high of $403.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The stock has a market capitalization of $135.08 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.22 and a beta of 0.77.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.84 earnings per share. Analysts forecast that Stryker Corporation will post 14.99 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid 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 of this dividend is Tuesday, June 30th. Stryker’s dividend payout ratio is 40.74%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SYK. Argus set a $370.00 target price on shares of Stryker in a research note on Thursday, July 9th. Needham & Company LLC dropped their price target on Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a report on Friday, May 1st. Leerink Partners cut their price objective on Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. JPMorgan Chase & Co. reduced their price objective on Stryker from $445.00 to $400.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Finally, Citigroup lowered their target price on Stryker from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $393.39.

Insider Activity at Stryker

In related news, VP Robert S. Fletcher sold 4,544 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $306.87, for a total value of $1,394,417.28. Following the transaction, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the sale, the director owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 323,264 shares of company stock worth $100,659,489 over the last 90 days. Insiders own 4.60% 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.