Stratos Wealth Partners LTD. Sells 108 Shares of Stryker Co. (NYSE:SYK)

Stratos Wealth Partners LTD. reduced its stake in Stryker Co. (NYSE:SYK) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,278 shares of the medical technology company’s stock after selling 108 shares during the period. Stratos Wealth Partners LTD.’s holdings in Stryker were worth $5,881,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SYK. Harbor Investment Advisory LLC grew its position in shares of Stryker by 0.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after buying an additional 31 shares during the period. Proficio Capital Partners LLC raised its holdings in Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc boosted its position in shares of Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares in the last quarter. Stanley Laman Group Ltd. grew its holdings in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares during the period. Finally, Plimoth Trust Co. LLC increased its position in shares of Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents 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 at this link. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $369.56 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock has a 50 day moving average price of $355.79 and a 200 day moving average price of $343.26. The stock has a market capitalization of $140.83 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 2.85 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 earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the business earned $2.54 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is currently 35.67%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYK. BTIG Research lifted their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. UBS Group boosted their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker 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.