AXS Investments LLC Decreases Stock Position in Stryker Co. (NYSE:SYK)

AXS Investments LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 80.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,108 shares of the medical technology company’s stock after selling 4,524 shares during the period. AXS Investments LLC’s holdings in Stryker were worth $332,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH lifted its stake in shares of Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after acquiring an additional 952 shares in the last quarter. Carnegie Capital Asset Management LLC raised its position in shares of Stryker by 0.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Stryker during the 4th quarter valued at approximately $1,561,000. CoreCap Advisors LLC grew its position in shares of Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after buying an additional 191 shares in the last quarter. Finally, Consolidated Planning Corp bought a new stake in shares of Stryker in the fourth quarter worth $205,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 1.6 %

Stryker stock opened at $335.54 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The company has a 50-day simple moving average of $339.85 and a 200-day simple moving average of $324.18. The firm has a market capitalization of $127.82 billion, a P/E ratio of 38.30, a P/E/G ratio of 2.64 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 EPS. As a group, equities analysts expect that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is currently 36.53%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. TD Cowen increased their price target on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Barclays increased their target price on Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Robert W. Baird lifted their target price on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $370.50.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by insiders.

Stryker 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.