Stratos Wealth Advisors LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

Stratos Wealth Advisors LLC grew its position in shares of Stryker Co. (NYSE:SYK) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,177 shares of the medical technology company’s stock after buying an additional 139 shares during the period. Stratos Wealth Advisors LLC’s holdings in Stryker were worth $1,509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. Centennial Bank AR grew its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker in the first quarter valued at $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $42,000. Grove Bank & Trust lifted its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. Finally, Sachetta LLC boosted its stake in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 2.7 %

Shares of SYK opened at $369.56 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a fifty-two week low of $255.22 and a fifty-two week high of $374.63. The firm has a 50 day moving average price of $355.79 and a 200-day moving average price of $343.20. The firm has a market cap of $140.78 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 2.85 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. As a group, equities research analysts forecast that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SYK shares. Truist Financial upped their price target on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Morgan Stanley upped their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Needham & Company LLC raised their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. UBS Group upped their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Wolfe Research assumed coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $381.16.

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.