Provence Wealth Management Group Sells 41 Shares of Stryker Co. (NYSE:SYK)

Provence Wealth Management Group decreased its position in Stryker Co. (NYSE:SYK) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 700 shares of the medical technology company’s stock after selling 41 shares during the quarter. Provence Wealth Management Group’s holdings in Stryker were worth $210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keybank National Association OH grew its position in Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after buying an additional 952 shares during the period. Carnegie Capital Asset Management LLC grew its position in shares of Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after acquiring an additional 497 shares during the period. CoreCap Advisors LLC increased its stake in shares of Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares in the last quarter. Consolidated Planning Corp bought a new position in Stryker in the 4th quarter worth $205,000. Finally, Meritage Portfolio Management purchased a new position in Stryker during the fourth quarter valued at $569,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler upped their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Stifel Nicolaus increased their price objective on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial lifted their target price on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $365.94.

Stryker Trading Up 0.6 %

Shares of NYSE:SYK traded up $1.82 during trading on Friday, reaching $328.45. The company’s stock had a trading volume of 1,589,424 shares, compared to its average volume of 1,415,127. The stock has a market capitalization of $125.12 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.55 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56. The firm’s 50 day simple moving average is $346.99 and its two-hundred day simple moving average is $317.29. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 earnings per share. On average, research analysts predict that Stryker Co. will post 11.94 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s payout ratio is presently 36.53%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

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.