Stryker Co. (NYSE:SYK) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC lowered its holdings in Stryker Co. (NYSE:SYK) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 42,745 shares of the medical technology company’s stock after selling 730 shares during the quarter. Modera Wealth Management LLC’s holdings in Stryker were worth $15,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. raised its stake in shares of Stryker by 0.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 37,313 shares of the medical technology company’s stock valued at $13,480,000 after buying an additional 282 shares during the last quarter. Covenant Partners LLC raised its position in Stryker by 2.7% during the third quarter. Covenant Partners LLC now owns 1,500 shares of the medical technology company’s stock valued at $542,000 after acquiring an additional 39 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted 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 acquiring an additional 9,063 shares during the period. Arkadios Wealth Advisors boosted its position in Stryker by 23.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 732 shares of the medical technology company’s stock worth $265,000 after purchasing an additional 137 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of Stryker by 2.2% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 49,533 shares of the medical technology company’s stock worth $17,894,000 after purchasing an additional 1,089 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SYK. Barclays increased their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Truist Financial raised their target price on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Evercore ISI lifted their price target on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler reiterated an “overweight” rating and set a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last ninety days. 5.90% of the stock is owned by insiders.

Stryker Price Performance

Stryker stock opened at $352.82 on Friday. The company has a fifty day simple moving average of $358.80 and a 200-day simple moving average of $343.67. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $134.41 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 2.83 and a beta of 0.91. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

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.