AAFMAA Wealth Management & Trust LLC Purchases 879 Shares of Stryker Co. (NYSE:SYK)

AAFMAA Wealth Management & Trust LLC boosted its position in shares of Stryker Co. (NYSE:SYK) by 18.5% in the first quarter, Holdings Channel.com reports. The firm owned 5,641 shares of the medical technology company’s stock after acquiring an additional 879 shares during the period. Stryker makes up about 1.1% of AAFMAA Wealth Management & Trust LLC’s investment portfolio, making the stock its 29th largest position. AAFMAA Wealth Management & Trust LLC’s holdings in Stryker were worth $2,019,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new position in shares of Stryker in the 4th quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP bought a new position in shares of Stryker in the 4th quarter valued at about $30,000. DSM Capital Partners LLC bought a new position in shares of Stryker in the 4th quarter valued at about $34,000. Finally, HBC Financial Services PLLC acquired a new stake in Stryker in the 4th quarter valued at about $37,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Evercore ISI cut their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Robert W. Baird raised their target price on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Barclays raised their target price on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price for the company in a research note on Wednesday, May 22nd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $370.32.

Stryker Stock Performance

Shares of SYK traded down $3.34 during mid-day trading on Monday, hitting $333.91. 585,983 shares of the company’s stock were exchanged, compared to its average volume of 1,293,685. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The stock’s 50-day simple moving average is $337.38 and its 200-day simple moving average is $335.41. The firm has a market cap of $127.20 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 2.66 and a beta of 0.89. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period last year, the firm earned $2.14 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts expect that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. Stryker’s dividend payout ratio (DPR) is 36.53%.

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.