SageView Advisory Group LLC Boosts Holdings in Stryker Co. (NYSE:SYK)

SageView Advisory Group LLC grew its holdings in shares of Stryker Co. (NYSE:SYK) by 17.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,627 shares of the medical technology company’s stock after acquiring an additional 237 shares during the quarter. SageView Advisory Group LLC’s holdings in Stryker were worth $515,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after buying an additional 143,631 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after buying an additional 642,178 shares during the period. Morgan Stanley increased its stake in shares of Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares during the period. Franklin Resources Inc. increased its stake in shares of Stryker by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after buying an additional 29,209 shares during the period. Finally, Norges Bank purchased a new position in shares of Stryker in the fourth quarter worth $1,260,562,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the topic of several analyst reports. UBS Group lifted their target price on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Robert W. Baird lifted their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. BTIG Research boosted their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a research report on Wednesday, May 22nd. Finally, Piper Sandler boosted their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $370.58.

Stryker Stock Performance

Shares of SYK stock opened at $348.67 on Wednesday. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The stock has a market cap of $132.83 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 2.71 and a beta of 0.92. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average price is $336.74 and its 200-day moving average price is $331.10.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for 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%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.14 EPS. On average, equities analysts expect that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

About Stryker

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.