Allen Mooney & Barnes Investment Advisors LLC Increases Stake in Stryker Co. (NYSE:SYK)

Allen Mooney & Barnes Investment Advisors LLC grew its holdings in Stryker Co. (NYSE:SYK) by 13.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,535 shares of the medical technology company’s stock after purchasing an additional 182 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Stryker were worth $554,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Iams Wealth Management LLC grew its position in Stryker by 49.2% in the 3rd quarter. Iams Wealth Management LLC now owns 1,095 shares of the medical technology company’s stock worth $396,000 after purchasing an additional 361 shares during the period. Wesbanco Bank Inc. increased its position in Stryker by 5.7% in the third quarter. Wesbanco Bank Inc. now owns 26,172 shares of the medical technology company’s stock worth $9,455,000 after buying an additional 1,401 shares in the last quarter. CX Institutional raised its stake in Stryker by 3.9% during the 3rd quarter. CX Institutional now owns 3,478 shares of the medical technology company’s stock worth $1,257,000 after acquiring an additional 130 shares during the period. Sivia Capital Partners LLC raised its position in shares of Stryker by 6.2% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,010 shares of the medical technology company’s stock valued at $365,000 after purchasing an additional 59 shares during the period. Finally, Grove Bank & Trust raised its holdings in Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYK. Truist Financial boosted their target price on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday. Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, UBS Group upped their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker Price Performance

Shares of SYK opened at $359.71 on Tuesday. The company has a 50 day moving average of $352.72 and a two-hundred day moving average of $342.95. The company has a market cap of $137.03 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a twelve month low of $255.22 and a twelve month high of $374.63.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for 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%. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.54 EPS. As a group, analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last 90 days. Insiders own 5.90% of the company’s stock.

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.