Mutual Advisors LLC Has $2 Million Stock Position in Stryker Co. (NYSE:SYK)

Mutual Advisors LLC boosted its stake in Stryker Co. (NYSE:SYK) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,562 shares of the medical technology company’s stock after purchasing an additional 457 shares during the quarter. Mutual Advisors LLC’s holdings in Stryker were worth $2,002,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYK. Koshinski Asset Management Inc. bought a new stake in shares of Stryker during the 1st quarter worth $795,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC acquired a new position in Stryker during the 1st quarter worth approximately $4,027,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Stryker by 38.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after buying an additional 5,502 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after buying an additional 58,673 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 2.0 %

NYSE:SYK opened at $356.28 on Friday. The firm has a fifty day simple moving average of $359.90 and a two-hundred day simple moving average of $344.06. Stryker Co. has a 12 month low of $264.85 and a 12 month high of $374.63. The stock has a market capitalization of $135.72 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 2.73 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. Analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.90%. Stryker’s payout ratio is 36.53%.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. UBS Group raised their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday. Canaccord Genuity Group upped their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock worth $65,151,372 over the last three months. 5.90% of the stock is currently owned by insiders.

About Stryker

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.