NEOS Investment Management LLC Purchases 11,760 Shares of Stryker Corporation $SYK

NEOS Investment Management LLC boosted its holdings in Stryker Corporation (NYSE:SYK) by 38.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 42,290 shares of the medical technology company’s stock after purchasing an additional 11,760 shares during the quarter. NEOS Investment Management LLC’s holdings in Stryker were worth $15,633,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SYK. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Stryker during the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new position in shares of Stryker during the third quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker during the second quarter valued at $28,000. Kilter Group LLC purchased a new position in Stryker during the second quarter valued at $29,000. Finally, Howard Hughes Medical Institute bought a new stake in Stryker in the 2nd quarter valued at $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

NYSE SYK opened at $369.13 on Wednesday. The business’s 50 day moving average price is $358.66 and its 200-day moving average price is $368.87. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a market cap of $141.26 billion, a P/E ratio of 43.94, a P/E/G ratio of 2.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the company earned $4.01 earnings per share. Stryker’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is presently 41.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SYK. TD Cowen lowered 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Wells Fargo & Company lifted their price objective on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Evercore set a $390.00 target price on Stryker in a research report on Monday, January 5th. Finally, Citigroup restated a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.94.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Corporate 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.