RWA Wealth Partners LLC Acquires 15,456 Shares of Stryker Corporation $SYK

RWA Wealth Partners LLC grew its stake in shares of Stryker Corporation (NYSE:SYK) by 196.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,313 shares of the medical technology company’s stock after buying an additional 15,456 shares during the period. RWA Wealth Partners LLC’s holdings in Stryker were worth $8,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of SYK. Terra Alpha Investments LLC acquired a new position in Stryker during the third quarter worth about $1,216,000. Diversified Trust Co raised its holdings in Stryker by 45.6% in the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after acquiring an additional 3,899 shares during the last quarter. SVB Wealth LLC purchased a new position in Stryker in the 2nd quarter worth approximately $4,785,000. AXQ Capital LP purchased a new position in Stryker in the 2nd quarter worth approximately $567,000. Finally, National Pension Service boosted its holdings in shares of Stryker by 2.4% during the 3rd quarter. National Pension Service now owns 683,867 shares of the medical technology company’s stock worth $252,805,000 after purchasing an additional 16,254 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.7%

Shares of SYK stock opened at $384.16 on Thursday. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The firm has a market cap of $147.02 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 2.23 and a beta of 0.87. The company has a 50-day moving average of $361.87 and a two-hundred day moving average of $369.02. 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 (NYSE:SYK) last issued its quarterly earnings data 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. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.01 EPS. On average, analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial reduced their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Evercore set a $390.00 target price on Stryker in a research note on Monday, January 5th. Sanford C. Bernstein lifted their price target on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Finally, TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a research report on Monday, January 26th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $426.47.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

Stryker 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.