Waterway Wealth Management LLC Acquires Shares of 838 Stryker Co. (NYSE:SYK)

Waterway Wealth Management LLC acquired a new stake in shares of Stryker Co. (NYSE:SYK) during the 1st quarter, HoldingsChannel reports. The firm acquired 838 shares of the medical technology company’s stock, valued at approximately $300,000.

Several other large investors have also bought and sold shares of SYK. Vanguard Group Inc. raised its stake in shares of Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after purchasing an additional 143,631 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the period. Morgan Stanley raised its stake in shares of Stryker by 4.4% during the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after purchasing an additional 223,728 shares during the period. Franklin Resources Inc. raised its stake in shares of Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after purchasing an additional 29,209 shares during the period. Finally, Norges Bank bought a new stake in shares of Stryker during the 4th quarter worth $1,260,562,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SYK shares. Piper Sandler boosted their price objective on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Citigroup boosted their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. UBS Group boosted their price objective on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.58.

Stryker Price Performance

Shares of NYSE:SYK traded up $0.51 on Friday, hitting $340.25. The company’s stock had a trading volume of 1,894,420 shares, compared to its average volume of 1,082,587. The company has a 50-day simple moving average of $337.38 and a 200 day simple moving average of $333.91. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a market capitalization of $129.62 billion, a PE ratio of 38.84, a PEG ratio of 2.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the firm posted $2.14 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. Stryker’s payout ratio is currently 36.53%.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.