Stryker Corporation (NYSE:SYK) Holdings Decreased by Tectonic Advisors LLC

Tectonic Advisors LLC trimmed its position in Stryker Corporation (NYSE:SYK) by 11.5% in the first quarter, Holdings Channel.com reports. The fund owned 2,084 shares of the medical technology company’s stock after selling 270 shares during the period. Tectonic Advisors LLC’s holdings in Stryker were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC increased its holdings in shares of Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company’s stock valued at $198,000 after acquiring an additional 29 shares during the last quarter. Oakworth Capital Inc. increased its holdings in shares of Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company’s stock valued at $2,283,000 after acquiring an additional 29 shares during the last quarter. ICW Investment Advisors LLC increased its holdings in shares of Stryker by 0.6% in the 4th quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company’s stock valued at $1,745,000 after acquiring an additional 30 shares during the last quarter. Rinkey Investments increased its holdings in shares of Stryker by 1.1% in the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company’s stock valued at $976,000 after acquiring an additional 30 shares during the last quarter. Finally, Tritonpoint Wealth LLC grew its stake in Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company’s stock worth $1,508,000 after buying an additional 30 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on SYK shares. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Truist Financial upped their price objective on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Finally, BTIG Research restated a “buy” rating on shares of Stryker in a research note on Monday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $428.55.

Stryker Trading Down 0.2%

Shares of NYSE SYK opened at $390.80 on Wednesday. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market cap of $149.16 billion, a price-to-earnings ratio of 52.81, a P/E/G ratio of 2.95 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $385.25 and a 200-day simple moving average of $377.46.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the business posted $2.50 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio is 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the 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 sale, the director directly owned 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

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.