Alpha Cubed Investments LLC Acquires 425 Shares of Stryker Co. (NYSE:SYK)

Alpha Cubed Investments LLC grew its holdings in Stryker Co. (NYSE:SYK) by 23.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,225 shares of the medical technology company’s stock after acquiring an additional 425 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Stryker were worth $666,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SYK. Brookstone Capital Management increased its holdings in shares of Stryker by 6.9% in the third quarter. Brookstone Capital Management now owns 8,022 shares of the medical technology company’s stock worth $2,153,000 after acquiring an additional 521 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Stryker by 2.9% during the third quarter. Commonwealth Equity Services LLC now owns 165,895 shares of the medical technology company’s stock worth $45,334,000 after buying an additional 4,742 shares in the last quarter. Accurate Wealth Management LLC grew its holdings in shares of Stryker by 10.4% during the third quarter. Accurate Wealth Management LLC now owns 815 shares of the medical technology company’s stock worth $218,000 after buying an additional 77 shares in the last quarter. Vicus Capital bought a new position in shares of Stryker during the third quarter worth about $477,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Stryker by 5.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 80,629 shares of the medical technology company’s stock worth $22,033,000 after buying an additional 3,855 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

SYK opened at $335.00 on Wednesday. The business has a fifty day simple moving average of $348.44 and a 200 day simple moving average of $316.70. The company has a market capitalization of $127.46 billion, a PE ratio of 40.77, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. Research analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.96%. Stryker’s dividend payout ratio is presently 38.79%.

Insider Buying and Selling at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 in the last three months. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYK. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and increased their price objective for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Wells Fargo & Company increased their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. TD Cowen raised their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Robert W. Baird lifted their target price on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.62.

Stryker Company 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.