Cooke Wealth Management LLC Takes Position in Stryker Corporation $SYK

Cooke Wealth Management LLC bought a new position in Stryker Corporation (NYSE:SYK) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 13,200 shares of the medical technology company’s stock, valued at approximately $4,744,000. Stryker accounts for about 4.2% of Cooke Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. Alliancebernstein L.P. increased its position in Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after acquiring an additional 1,146,998 shares during the period. Strive Asset Management LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $227,389,000. Credit Agricole S A purchased a new stake in Stryker in the 3rd quarter worth approximately $194,045,000. Finally, APG Asset Management N.V. increased its holdings in Stryker by 47.6% in the 3rd quarter. APG Asset Management N.V. now owns 943,648 shares of the medical technology company’s stock worth $348,838,000 after acquiring an additional 304,203 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred 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 directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

SYK stock opened at $331.48 on Monday. 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 company’s fifty day moving average price is $357.10 and its 200-day moving average price is $361.76. Stryker Corporation has a one year low of $319.32 and a one year high of $404.87. The company has a market capitalization of $126.95 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYK. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a report on Friday, January 9th. BTIG Research lifted their target price on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Needham & Company LLC upped their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Robert W. Baird set a $437.00 price target on Stryker in a research note on Friday, January 30th. Finally, Piper Sandler restated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $427.50.

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.