Aviso Wealth Management Makes New Investment in Stryker Co. (NYSE:SYK)

Aviso Wealth Management bought a new stake in shares of Stryker Co. (NYSE:SYK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 598 shares of the medical technology company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Central Pacific Bank Trust Division purchased a new position in shares of Stryker in the 1st quarter worth $39,000. Accent Capital Management LLC purchased a new position in Stryker in the fourth quarter worth about $60,000. Sachetta LLC increased its stake in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in Stryker by 17.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after purchasing an additional 40 shares during the period. Finally, Rise Advisors LLC lifted its stake in shares of Stryker by 144.6% in the 1st quarter. Rise Advisors LLC now owns 274 shares of the medical technology company’s stock valued at $98,000 after purchasing an additional 162 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 0.3 %

NYSE:SYK opened at $360.27 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. The company has a 50-day moving average of $347.92 and a 200 day moving average of $343.06. The firm has a market cap of $137.24 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.54 EPS. As a group, research analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 in the last three months. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Needham & Company LLC raised their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays raised their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Evercore ISI dropped their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Piper Sandler reissued an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $378.58.

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.