King Luther Capital Management Corp Grows Stock Position in Stryker Corporation $SYK

King Luther Capital Management Corp boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 461,653 shares of the medical technology company’s stock after purchasing an additional 14,174 shares during the quarter. King Luther Capital Management Corp’s holdings in Stryker were worth $170,659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Clayton Financial Group LLC acquired a new position in Stryker during the 3rd quarter worth approximately $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker during the 2nd quarter worth $28,000. Kilter Group LLC acquired a new position in shares of Stryker during the second quarter worth $29,000. Howard Hughes Medical Institute acquired a new position in shares of Stryker during the second quarter worth $29,000. Finally, MTM Investment Management LLC purchased a new position in Stryker in the second quarter valued at $38,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYK. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Royal Bank Of Canada restated an “outperform” rating and set a $435.00 target price on shares of Stryker in a research note on Friday, November 14th. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. The Goldman Sachs Group set a $399.00 price objective on shares of Stryker in a report on Friday, January 9th. Finally, Evercore set a $390.00 target price on shares of Stryker in a report on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.94.

Stryker Stock Performance

Shares of SYK stock opened at $377.08 on Thursday. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The stock’s 50-day moving average price is $359.13 and its 200 day moving average price is $368.93. 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 has a market capitalization of $144.30 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.01 earnings per share. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed 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 is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s 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 transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.90% of the stock is currently owned by insiders.

Stryker Company Profile

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.