J.W. Cole Advisors Inc. Raises Position in Stryker Co. (NYSE:SYK)

J.W. Cole Advisors Inc. lifted its stake in Stryker Co. (NYSE:SYK) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,932 shares of the medical technology company’s stock after buying an additional 746 shares during the period. J.W. Cole Advisors Inc.’s holdings in Stryker were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its holdings in Stryker by 4.6% in the third quarter. State of Alaska Department of Revenue now owns 40,843 shares of the medical technology company’s stock valued at $14,754,000 after purchasing an additional 1,790 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in Stryker by 33.8% in the third quarter. Frank Rimerman Advisors LLC now owns 5,977 shares of the medical technology company’s stock valued at $2,159,000 after purchasing an additional 1,510 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in Stryker by 0.8% in the third quarter. GHP Investment Advisors Inc. now owns 37,313 shares of the medical technology company’s stock valued at $13,480,000 after purchasing an additional 282 shares during the last quarter. Covenant Partners LLC boosted its holdings in Stryker by 2.7% in the third quarter. Covenant Partners LLC now owns 1,500 shares of the medical technology company’s stock valued at $542,000 after purchasing an additional 39 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Stryker by 6.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 142,083 shares of the medical technology company’s stock valued at $51,329,000 after purchasing an additional 9,063 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.9 %

SYK opened at $356.08 on Tuesday. Stryker Co. has a 12 month low of $258.33 and a 12 month high of $374.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock has a market cap of $135.65 billion, a P/E ratio of 40.65, a P/E/G ratio of 2.73 and a beta of 0.91. The stock’s 50 day moving average price is $359.10 and its 200 day moving average price is $343.72.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYK. Truist Financial increased their price target on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report on Monday, October 14th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Stifel Nicolaus cut their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, UBS Group upped their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $381.16.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 in the last three months. 5.90% of the stock is owned by company 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.