Spire Wealth Management Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

Spire Wealth Management reduced its position in Stryker Co. (NYSE:SYKFree Report) by 67.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 937 shares of the medical technology company’s stock after selling 1,953 shares during the period. Spire Wealth Management’s holdings in Stryker were worth $256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Fairfield Bush & CO. acquired a new stake in shares of Stryker in the 1st quarter valued at about $131,000. Dimensional Fund Advisors LP raised its stake in Stryker by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock worth $180,182,000 after acquiring an additional 9,026 shares during the period. Prudential PLC acquired a new stake in Stryker during the first quarter worth about $1,444,000. Sequoia Financial Advisors LLC raised its stake in Stryker by 21.6% during the first quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock worth $817,000 after acquiring an additional 543 shares during the period. Finally, Zions Bancorporation N.A. raised its stake in Stryker by 9.2% during the first quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock worth $839,000 after acquiring an additional 265 shares during the period. 76.24% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.9 %

Shares of NYSE SYK opened at $341.96 on Friday. The stock has a market cap of $129.92 billion, a P/E ratio of 41.45, a P/E/G ratio of 2.76 and a beta of 0.90. The firm has a 50 day moving average price of $307.59 and a 200 day moving average price of $289.40. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $346.59.

Stryker (NYSE:SYKGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.00 earnings per share. Analysts expect that Stryker Co. will post 11.87 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Wall Street Analyst Weigh In

Several research analysts have commented on SYK shares. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research report on Wednesday, January 31st. Morgan Stanley upped their target price on shares of Stryker from $300.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, December 4th. Wells Fargo & Company upped their target price on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Roth Mkm upped their target price on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, UBS Group increased their price objective on shares of Stryker from $289.00 to $297.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $331.52.

Get Our Latest Stock Report on Stryker

Insider Activity

In other news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Srikant M. Datar sold 500 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $291.92, for a total transaction of $145,960.00. Following the completion of the sale, the director now directly owns 4,316 shares in the company, valued at approximately $1,259,926.72. The disclosure for this sale can be found here. Insiders sold 262,725 shares of company stock worth $86,880,191 over the last quarter. 5.90% of the stock is currently owned by company insiders.

About Stryker

(Free Report)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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