Exchange Traded Concepts LLC Raises Stock Position in Stryker Corporation $SYK

Exchange Traded Concepts LLC boosted its position in shares of Stryker Corporation (NYSE:SYK) by 106.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,955 shares of the medical technology company’s stock after acquiring an additional 8,741 shares during the period. Exchange Traded Concepts LLC’s holdings in Stryker were worth $5,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SYK. Brighton Jones LLC increased its position in shares of Stryker by 15.4% during the fourth 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. acquired a new stake in shares of Stryker in the 2nd quarter worth $205,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Stryker in the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. grew its stake in Stryker by 3.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,420 shares of the medical technology company’s stock worth $21,530,000 after buying an additional 1,564 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its stake in Stryker by 14.9% during the 2nd quarter. Level Four Advisory Services LLC now owns 2,535 shares of the medical technology company’s stock worth $1,003,000 after buying an additional 329 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on SYK. Barclays reiterated an “overweight” rating and issued a $469.00 price target on shares of Stryker in a research note on Monday, February 2nd. Truist Financial dropped their price target on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a report on Friday, December 19th. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Sanford C. Bernstein boosted their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $427.50.

Stryker Stock Performance

Shares of SYK opened at $325.87 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 stock has a 50-day moving average of $359.40 and a two-hundred day moving average of $363.12. The stock has a market cap of $124.80 billion, a P/E ratio of 38.79, a P/E/G ratio of 1.91 and a beta of 0.85. Stryker Corporation has a one year low of $324.48 and a one year high of $404.87.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating 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 business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the company earned $4.01 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm 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 $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The shares were 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 in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.20% 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.