Howe & Rusling Inc., a financial services firm, recently increased its holdings in shares of Stryker Co. (NYSE: SYK) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired an additional 1,867 shares of the medical technology company’s stock, bringing its total holdings to 36,564 shares. Stryker now represents approximately 1.2% of Howe & Rusling Inc.’s portfolio and is ranked as the 26th largest holding.
As of the most recent SEC filing, Howe & Rusling Inc.’s holdings in Stryker were valued at $10,438,000. This demonstrates the firm’s confidence in the potential growth and value of Stryker as an investment opportunity.
Stryker recently announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported earnings per share (EPS) of $2.54 for the quarter, surpassing the consensus estimate of $2.38 by $0.16. Additionally, Stryker generated $5 billion in revenue during this period, exceeding analyst estimates of $4.83 billion.
The company’s strong financial performance can be attributed to its robust return on equity of 22.31% and impressive net margin of 13.92%. Furthermore, Stryker experienced an 11.2% increase in revenue on a year-over-year basis.
In comparison to the previous year’s performance during the same period when it recorded earnings per share of $2.25, Stryker continues to demonstrate consistent growth and profitability.
Analysts have provided positive assessments of Stryker’s performance and future prospects. For instance, BTIG Research raised its price objective on Stryker from $313.00 to $331.00 in a research report released on July 17th.
Other analysts have also expressed their positive opinions on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a price objective of $325.00 on Stryker shares. Barclays raised its price objective from $321.00 to $335.00 and gave the company an “overweight” rating.
These ratings indicate a strong consensus among experts that Stryker has potential for further growth and upside potential in the market.
In addition to these ratings, Truist Financial increased its price objective on Stryker from $300.00 to $310.00, endorsing the positive outlook for the company.
Overall, six equities research analysts have rated Stryker as a hold, while eleven have given it a buy rating. Bloomberg.com reports that the consensus rating for the stock is “Moderate Buy,” with an average target price of $309.59.
The future looks promising for Stryker Co., as it continues to impress both investors and analysts with its solid financial performance and positive outlook. As we approach the end of 2023, it will be interesting to see if Stryker can sustain its growth trajectory and capitalize on new opportunities in the medical technology industry.
Heritage-Crystal Clean, Inc
HCCI
Buy
Updated on: 05/12/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors Bullish on Stryker as Stock Soars
Institutional Investors Show Interest in Stryker as Stock Prices Soar
In recent months, Stryker Corporation (NYSE:SYK) has caught the attention of various institutional investors and hedge funds. These sophisticated financial players, including Quarry LP, Freedom Wealth Alliance LLC, Altshuler Shaham Ltd, Elequin Securities LLC, and Cascade Investment Advisors Inc., have shown confidence in Stryker’s growth prospects by acquiring significant stakes in the company. As of September 12, 2023, these institutional investors and hedge funds collectively own approximately 76.24% of the company’s stock.
Stock Performance and Market Capitalization:
Stryker is a renowned medical technology company that specializes in providing innovative orthopedic devices and equipment. On Tuesday, September 12th, shares of NYSE:SYK opened at $299.72. With its market capitalization standing at an impressive $113.83 billion, Stryker demonstrates solid stability within the market.
Financial Indicators:
Stryker boasts a favorable set of financial indicators that further underline its robust position within the industry. With a price-to-earnings ratio (PE) of 42.33 and a price/earnings to growth ratio (P/E/G) of 2.79, the company attracts investors seeking value for their investments. Additionally, Stryker maintains a beta of 0.95, indicating lower volatility compared to broader market indices.
The company holds a comfortable debt-to-equity ratio of 0.64, showcasing prudent financial management practices and reducing risk for shareholders. Furthermore, Stryker exhibits strong current (1.54) and quick (0.84) ratios as measures of its ability to meet immediate obligations with available resources.
Moving Averages:
Stryker showcases consistent performance with respect to stock price trends over a particular period as evidenced by its moving averages data. The fifty-day moving average stands at $287.00, while the two-hundred-day moving average records a slightly higher figure of $284.98.
Analysts Ratings:
A number of analysts recently issued reports on Stryker Corporation. BTIG Research raised their price objective from $313.00 to $331.00, reinforcing their positive stance toward the stock in a research report released on July 17th. Nonetheless, other critics have cautioned investors by downgrading Stryker’s rating from “buy” to “hold,” demonstrating a range of opinions within the market.
Institutional Ownership and Dividends:
Stryker recently announced a quarterly dividend that will be paid on Tuesday, October 31st. Shareholders of record as of Friday, September 29th will receive a dividend of $0.75 per share. Based on an annualized basis, this represents a total dividend payout of $3.00 with a dividend yield of 1.00%. Currently, Stryker boasts a dividend payout ratio (DPR) of 42.37%.
Insider Activity:
On Wednesday, September 6th, insider Viju Menon sold 5,000 shares at an average price of $289.00 per share amounting to a total transaction value of $1,445,000. Following this sale, Menon retains ownership of 6,994 shares valued at approximately $2,021,266.
Conclusion:
With growing interest from institutional investors and hedge funds and favorable ratings from several analysts in the industry; Stryker Corporation continues to establish itself as a compelling investment opportunity within the medical technology sector.
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