Machina Capital S.A.S. Purchases New Position in Stryker Corporation $SYK

Machina Capital S.A.S. acquired a new position in shares of Stryker Corporation (NYSE:SYK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,517 shares of the medical technology company’s stock, valued at approximately $1,300,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Mid American Wealth Advisory Group Inc. bought a new position in Stryker during the 2nd quarter valued at $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker in the 3rd quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker in the second quarter valued at about $28,000. Sachetta LLC lifted its position in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Kilter Group LLC bought a new position in shares of Stryker during the second quarter valued at about $29,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Stryker stock opened at $360.19 on Thursday. The business’s 50 day simple moving average is $358.84 and its 200 day simple moving average is $371.11. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a market cap of $137.74 billion, a price-to-earnings ratio of 42.88, a PEG ratio of 2.11 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the company posted $4.01 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Analysts Set New Price Targets

Several research firms have commented on SYK. Barclays reiterated an “overweight” rating and issued a $469.00 price objective on shares of Stryker in a research note on Monday. Robert W. Baird set a $437.00 target price on Stryker in a report on Friday, January 30th. Truist Financial decreased their price target on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Evercore ISI set a $390.00 price objective on Stryker in a research note on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $426.56.

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.