Rafferty Asset Management LLC Raises Stock Position in Stryker Corporation $SYK

Rafferty Asset Management LLC lifted its stake in Stryker Corporation (NYSE:SYK) by 5.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,185 shares of the medical technology company’s stock after buying an additional 1,826 shares during the quarter. Rafferty Asset Management LLC’s holdings in Stryker were worth $14,116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Clayton Financial Group LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new stake in Stryker during the second quarter valued at about $28,000. Kilter Group LLC acquired a new position in shares of Stryker during the second quarter worth $29,000. Howard Hughes Medical Institute purchased a new position in shares of Stryker in the 2nd quarter valued at approximately $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Stryker in the third quarter valued at about $34,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen downgraded Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a report on Monday, January 26th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Citigroup reissued a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Robert W. Baird set a $437.00 target price on Stryker in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $426.47.

Stryker Stock Up 0.3%

Shares of NYSE:SYK opened at $387.34 on Monday. The company has a market capitalization of $148.23 billion, a P/E ratio of 46.11, a P/E/G ratio of 2.26 and a beta of 0.87. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $363.17 and its 200-day simple moving average is $369.09.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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 net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the firm posted $4.01 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

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.