Kovitz Investment Group Partners LLC Purchases 1,690 Shares of Stryker Corporation $SYK

Kovitz Investment Group Partners LLC increased its position in shares of Stryker Corporation (NYSE:SYK) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,413 shares of the medical technology company’s stock after purchasing an additional 1,690 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Stryker were worth $14,204,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

SYK has been the subject of a number of analyst reports. William Blair assumed coverage on shares of Stryker in a research note on Friday. They set an “outperform” rating for the company. Citigroup restated a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research note on Friday, December 19th. Finally, Needham & Company LLC boosted their target price on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.94.

Stryker Trading Up 1.2%

SYK stock opened at $384.82 on Tuesday. The business has a fifty day moving average price of $360.63 and a 200 day moving average price of $368.88. 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 Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The stock has a market capitalization of $147.27 billion, a price-to-earnings ratio of 45.81, a P/E/G ratio of 2.22 and a beta of 0.87.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company 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 business earned $4.01 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were 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 in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.