Avestar Capital LLC Has $1.15 Million Stake in Stryker Co. (NYSE:SYK)

Avestar Capital LLC increased its stake in Stryker Co. (NYSE:SYK) by 8.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,205 shares of the medical technology company’s stock after purchasing an additional 257 shares during the quarter. Avestar Capital LLC’s holdings in Stryker were worth $1,154,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SYK. State Street Corp grew its holdings in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares in the last quarter. FMR LLC lifted its position in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Parnassus Investments LLC acquired a new position in Stryker during the third quarter worth $762,798,000. Finally, Janus Henderson Group PLC increased its stake in Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after buying an additional 28,421 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $385.49 on Thursday. The stock has a 50 day simple moving average of $377.19 and a 200 day simple moving average of $366.15. The stock has a market cap of $146.96 billion, a P/E ratio of 49.68, a PEG ratio of 2.98 and a beta of 0.96. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the company earned $3.46 earnings per share. Research analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s payout ratio is presently 43.30%.

Analysts Set New Price Targets

SYK has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $420.68.

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.