Todd Asset Management LLC Makes New $203,000 Investment in Stryker Corporation (NYSE:SYK)

Todd Asset Management LLC purchased a new position in shares of Stryker Corporation (NYSE:SYK) in the first quarter, Holdings Channel reports. The fund purchased 545 shares of the medical technology company’s stock, valued at approximately $203,000.

A number of other institutional investors also recently bought and sold shares of SYK. GAMMA Investing LLC increased its holdings in shares of Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Nuveen LLC purchased a new position in shares of Stryker during the 1st quarter valued at approximately $558,075,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Stryker during the 4th quarter valued at approximately $154,140,000. Northern Trust Corp increased its holdings in shares of Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock valued at $1,298,426,000 after purchasing an additional 420,153 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 0.2%

Shares of SYK opened at $376.75 on Tuesday. The firm’s fifty day moving average is $387.08 and its two-hundred day moving average is $379.86. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The stock has a market cap of $144.04 billion, a PE ratio of 49.90, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 52-week low of $323.73 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.81 EPS. Research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio is presently 44.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SYK shares. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a report on Monday, May 5th. Evercore ISI lifted their target price on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Citigroup reaffirmed a “buy” rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Finally, Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $430.10.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

Stryker Profile

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.