On September 26, 2023, it was reported that KCS Wealth Advisory had purchased a new stake in shares of Stryker Co. (NYSE:SYK) during the second quarter. The institutional investor acquired 685 shares of the medical technology company’s stock with a value of approximately $209,000.
Stryker recently announced its earnings results on August 3rd. The company reported earnings per share of $2.54 for the quarter, surpassing analysts’ consensus estimates of $2.38 by $0.16. Additionally, Stryker achieved a net margin of 13.92% and a return on equity of 22.31%. Its revenue for the quarter reached $5 billion, exceeding analyst expectations of $4.83 billion. When compared to the same quarter in the previous year, the company’s revenue experienced an increase of 11.2%. Analysts anticipate that Stryker Co. will have EPS of 10.37 for the current year.
Several research firms have provided their analysis on SYK stock as well. Barclays raised its target price on Stryker shares from $321 to $335 and rated the stock as “overweight”. Similarly, Morgan Stanley increased their price objective from $295 to $300 and maintained an “equal weight” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating with a price objective of $325 on Stryker shares, while StockNews.com downgraded its rating from “buy” to “hold” in their research report released on September 8th. BTIG Research also raised its price objective on Stryker shares from $313 to $331.
Out of seventeen investment analysts who reviewed the stock, six recommend holding it while eleven suggest buying it according to Bloomberg data on September 26th. The average rating is currently labeled as “Moderate Buy,” with a consensus price target of $309.59.
In conclusion, KCS Wealth Advisory made a new investment in Stryker Co. by purchasing shares worth $209,000. The company has recently reported impressive earnings results and exceeded revenue expectations. Furthermore, various research firms have rated the stock favorably, with the majority recommending either holding or buying it.
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Institutional Interest Boosts Stryker Stock Amidst Analyst Disagreement
Stryker Stock Gains Institutional Traction amidst Mixed Analyst Recommendations
Date: September 26, 2023
Medical technology company Stryker (SYK) has been witnessing increased interest from institutional investors and hedge funds. Several prominent investment firms have recently acquired and sold shares of SYK, adding to the intriguing dynamics surrounding the company’s stock value. Against this backdrop, analysts have rendered varied opinions on the company’s prospects and provided target price predictions.
One noteworthy transaction involved Freedom Wealth Alliance LLC, which added a new position in Stryker during the fourth quarter of 2022 with an approximate investment value of $26,000. Similarly, Quarry LP purchased a stake worth approximately $27,000 in the first quarter of 2023. Meanwhile, ST Germain D J Co. Inc., a seasoned investor in the medical technology sector, raised its stake in Stryker by 6.6% during the fourth quarter of 2022. These acquisitions indicate growing confidence among institutional investors regarding Stryker’s potential.
Adding to this trend is Altshuler Shaham Ltd’s purchase of shares worth approximately $33,000 in the first quarter of 2023, as well as Cascade Investment Advisors Inc.’s acquisition of a stake worth roughly $34,000 during the same period. As per recent data, around 76.24% of Stryker stock is owned by institutional investors—an impressive tally.
On September 26th, Stryker stock opened at $287.38 per share with fifty-day and two-hundred-day simple moving averages standing at $285.97 and $286.71 respectively. The company boasts a market cap of $109.14 billion and possesses a PE ratio of 40.59 along with a price-to-earnings-growth ratio of 2.76—a financial snapshot that makes it an appealing prospect for investors.
Stryker Co.’s quick ratio of 0.84, current ratio of 1.54, and debt-to-equity ratio of 0.64 reflect a solid financial foundation that may appeal to risk-averse investors seeking stability within their portfolio.
Research firms have recently shared their insights on Stryker, yielding varying opinions about the company’s future prospects. Barclays, for instance, raised its target price for SYK shares from $321.00 to $335.00 and assigned an “overweight” rating to the stock in its research note on August 7th. Meanwhile, Morgan Stanley increased its price objective from $295.00 to $300.00 and maintained an “equal weight” rating.
Royal Bank of Canada (RBC) reaffirmed an “outperform” rating with a price objective of $325.00, while StockNews.com downgraded Stryker from a “buy” to a “hold” rating on September 8th. Lastly, BTIG Research raised its price objective from $313.00 to $331.00 in July.
These contrasting assessments have resulted in an average analyst rating of “Moderate Buy,” accompanied by a consensus price target of approximately $309.59 for Stryker’s stock, according to Bloomberg data.
Moreover, Stryker recently declared a quarterly dividend set to be paid on October 31st; shareholders of record as of September 29th will receive a dividend worth $0.75 per share. With the ex-dividend date falling on September 28th, this represents an annualized dividend amounting to $3.00 per share and a yield of 1.04%. The dividend payout ratio (DPR) is currently at 42.37%.
In recent news related to insider trading activity at Stryker, Viju Menon—a key executive—sold off 5,000 shares at an average price of $289.00 on September 6th. Following this transaction, Menon now directly holds 6,994 shares of the company’s stock with an estimated value of $2,021,266.
Stryker’s stock performance remains a subject of intrigue in the financial markets due to its institutional investor interest and conflicting analyst ratings. As investors keep a close watch on future developments within the healthcare industry, Stryker’s trajectory will undoubtedly factor significantly into portfolio decisions moving forward.
