Arkadios Wealth Advisors Raises Holdings in Stryker Co. (NYSE:SYK)

Arkadios Wealth Advisors raised its holdings in shares of Stryker Co. (NYSE:SYK) by 23.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 732 shares of the medical technology company’s stock after acquiring an additional 137 shares during the quarter. Arkadios Wealth Advisors’ holdings in Stryker were worth $265,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SYK. Norden Group LLC acquired a new position in shares of Stryker during the 1st quarter worth about $4,027,000. Kovack Advisors Inc. acquired a new position in shares of Stryker during the 1st quarter worth about $224,000. J.W. Cole Advisors Inc. boosted its position in shares of Stryker by 6.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock worth $933,000 after acquiring an additional 166 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Stryker by 4.4% during the 1st quarter. Private Advisor Group LLC now owns 15,310 shares of the medical technology company’s stock worth $5,479,000 after acquiring an additional 652 shares in the last quarter. Finally, Mission Wealth Management LP boosted its position in shares of Stryker by 201.2% during the 1st quarter. Mission Wealth Management LP now owns 6,258 shares of the medical technology company’s stock worth $2,240,000 after acquiring an additional 4,180 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SYK. Truist Financial upped their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup upped their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade 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. In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s 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 in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,068 shares of company stock worth $65,151,372. 5.90% of the stock is owned by insiders.

Stryker Stock Performance

Shares of SYK stock opened at $356.28 on Friday. The company has a market cap of $135.72 billion, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The stock has a 50 day simple moving average of $359.90 and a 200-day simple moving average of $344.06. Stryker Co. has a 12-month low of $264.85 and a 12-month high of $374.63. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the business posted $2.46 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

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.