Stryker Co. (NYSE:SYK) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC cut its stake in Stryker Co. (NYSE:SYK) by 26.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,255 shares of the medical technology company’s stock after selling 463 shares during the period. IVC Wealth Advisors LLC’s holdings in Stryker were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its position in shares of Stryker by 79.0% during the second quarter. Public Sector Pension Investment Board now owns 12,579 shares of the medical technology company’s stock worth $4,280,000 after buying an additional 5,553 shares during the period. Insigneo Advisory Services LLC boosted its position in Stryker by 31.9% during the 2nd quarter. Insigneo Advisory Services LLC now owns 2,150 shares of the medical technology company’s stock worth $679,000 after acquiring an additional 520 shares during the period. AXA S.A. grew its stake in shares of Stryker by 11.0% in the second quarter. AXA S.A. now owns 91,054 shares of the medical technology company’s stock worth $30,981,000 after purchasing an additional 9,052 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Stryker by 9.7% during the second quarter. AQR Capital Management LLC now owns 125,333 shares of the medical technology company’s stock valued at $42,485,000 after purchasing an additional 11,075 shares during the period. Finally, APG Asset Management N.V. raised its stake in shares of Stryker by 2.2% during the second quarter. APG Asset Management N.V. now owns 223,007 shares of the medical technology company’s stock valued at $70,798,000 after purchasing an additional 4,902 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

NYSE:SYK opened at $393.79 on Friday. The company has a fifty day moving average price of $375.82 and a 200 day moving average price of $360.16. Stryker Co. has a one year low of $307.23 and a one year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market cap of $150.12 billion, a P/E ratio of 42.21, a PEG ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

SYK has been the topic of several research analyst reports. Evercore ISI raised their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Citigroup raised their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Company Profile

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.