J.W. Cole Advisors Inc. Trims Position in Stryker Corporation $SYK

J.W. Cole Advisors Inc. reduced its position in Stryker Corporation (NYSE:SYK) by 26.0% in the 3rd quarter, Holdings Channel reports. The fund owned 9,281 shares of the medical technology company’s stock after selling 3,266 shares during the period. J.W. Cole Advisors Inc.’s holdings in Stryker were worth $3,431,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SYK. Princeton Global Asset Management LLC lifted its position in Stryker by 16.9% during the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after buying an additional 26 shares during the period. Kovack Advisors Inc. grew its holdings in Stryker by 3.6% in the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock valued at $305,000 after buying an additional 27 shares during the period. Armstrong Advisory Group Inc. increased its stake in shares of Stryker by 12.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after acquiring an additional 27 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Stryker by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock worth $704,000 after acquiring an additional 27 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of Stryker by 3.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Truist Financial lowered their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a research report on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. Finally, TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a research note on Monday, January 26th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.56.

Insider Activity at Stryker

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is owned by company insiders.

Stryker Stock Up 0.5%

Shares of Stryker stock opened at $362.63 on Friday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87. The stock has a market cap of $138.68 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 2.11 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $358.65 and a 200 day moving average price of $371.05.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the firm posted $4.01 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is currently 41.90%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.