Aquatic Capital Management LLC Makes New $5.76 Million Investment in Stryker Corporation $SYK

Aquatic Capital Management LLC purchased a new stake in Stryker Corporation (NYSE:SYK) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,577 shares of the medical technology company’s stock, valued at approximately $5,758,000.

Several other large investors have also recently made changes to their positions in SYK. Brighton Jones LLC lifted its stake 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 acquiring an additional 609 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Stryker during the 2nd quarter valued at about $205,000. Cetera Investment Advisers grew its position in Stryker by 2.2% in the 2nd quarter. Cetera Investment Advisers now owns 98,966 shares of the medical technology company’s stock valued at $39,154,000 after acquiring an additional 2,169 shares in the last quarter. Intech Investment Management LLC increased its stake in Stryker by 8.7% during the second quarter. Intech Investment Management LLC now owns 5,977 shares of the medical technology company’s stock worth $2,365,000 after purchasing an additional 477 shares during the period. Finally, Avantax Advisory Services Inc. increased its stake in Stryker by 6.2% during the second quarter. Avantax Advisory Services Inc. now owns 23,629 shares of the medical technology company’s stock worth $9,348,000 after purchasing an additional 1,387 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. Barclays reissued an “overweight” rating and issued a $469.00 price objective on shares of Stryker in a research note on Monday, February 2nd. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. William Blair reiterated an “outperform” rating on shares of Stryker in a report on Thursday, March 5th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Finally, Sanford C. Bernstein boosted their price target on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $428.61.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction 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 transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Stryker Stock Up 3.9%

SYK stock opened at $349.89 on Tuesday. The company’s 50 day moving average price is $365.22 and its 200 day moving average price is $367.06. The firm has a market capitalization of $133.90 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 1.97 and a beta of 0.85. Stryker Corporation has a fifty-two week low of $328.23 and a fifty-two week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

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 analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the firm earned $4.01 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

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.