B. Riley Wealth Advisors Inc. Sells 915 Shares of Stryker Co. (NYSE:SYK)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 3.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,481 shares of the medical technology company’s stock after selling 915 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Stryker were worth $8,438,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dunhill Financial LLC grew its holdings in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR grew its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in Stryker in the 3rd quarter worth about $36,000. HBW Advisory Services LLC bought a new stake in Stryker in the 3rd quarter valued at about $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Price Performance

SYK opened at $374.75 on Friday. The stock has a market capitalization of $142.86 billion, a PE ratio of 40.17, a price-to-earnings-growth ratio of 2.83 and a beta of 0.94. The stock’s 50 day moving average price is $373.36 and its 200-day moving average price is $354.92. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the company posted $2.46 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 34.30%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYK. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird boosted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.35.

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.