Dana Investment Advisors Inc. Has $9.92 Million Stock Holdings in Stryker Corporation $SYK

Dana Investment Advisors Inc. grew its holdings in shares of Stryker Corporation (NYSE:SYK) by 72.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,839 shares of the medical technology company’s stock after buying an additional 11,289 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Stryker were worth $9,922,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after purchasing an additional 609 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Stryker during the second quarter valued at approximately $205,000. Wealthfront Advisers LLC grew its holdings in Stryker by 0.9% during the second quarter. Wealthfront Advisers LLC now owns 37,037 shares of the medical technology company’s stock worth $14,653,000 after buying an additional 337 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Stryker by 0.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 634,181 shares of the medical technology company’s stock valued at $250,901,000 after buying an additional 2,001 shares during the last quarter. Finally, Solstein Capital LLC bought a new position in Stryker during the 2nd quarter valued at $43,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Shares of SYK stock opened at $384.82 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a market cap of $147.27 billion, a price-to-earnings ratio of 45.81, a P/E/G ratio of 2.22 and a beta of 0.87. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The firm’s 50-day simple moving average is $360.63 and its two-hundred day simple moving average is $368.88.

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 the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.01 EPS. As a group, equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio is presently 41.90%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Evercore set a $390.00 target price on shares of Stryker in a research note on Monday, January 5th. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a report on Friday, January 9th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a research report on Monday, January 26th. Finally, Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a report on Friday, December 19th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $426.94.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction 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 transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by corporate insiders.

About Stryker

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.