Professional Advisory Services Inc. Buys 1,586 Shares of Stryker Corporation $SYK

Professional Advisory Services Inc. raised its stake in shares of Stryker Corporation (NYSE:SYK) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 56,745 shares of the medical technology company’s stock after buying an additional 1,586 shares during the quarter. Stryker makes up approximately 2.7% of Professional Advisory Services Inc.’s portfolio, making the stock its 19th biggest position. Professional Advisory Services Inc.’s holdings in Stryker were worth $20,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parsons Capital Management Inc. RI raised its stake in Stryker by 6.4% in the third quarter. Parsons Capital Management Inc. RI now owns 8,788 shares of the medical technology company’s stock worth $3,249,000 after buying an additional 526 shares in the last quarter. Arkadios Wealth Advisors boosted its position in Stryker by 13.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 5,404 shares of the medical technology company’s stock valued at $1,998,000 after acquiring an additional 657 shares in the last quarter. Turtle Creek Wealth Advisors LLC grew its holdings in shares of Stryker by 9.9% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 20,213 shares of the medical technology company’s stock worth $7,472,000 after acquiring an additional 1,818 shares during the period. Verdence Capital Advisors LLC raised its position in shares of Stryker by 115.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,261 shares of the medical technology company’s stock worth $1,251,000 after acquiring an additional 1,746 shares in the last quarter. Finally, Tradewinds LLC. purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $235,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This represents a 40.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 522,118 shares of company stock worth $185,381,932. Insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent research reports. BTIG Research reaffirmed a “buy” rating and issued a $410.00 price target on shares of Stryker in a research note on Friday, November 14th. Wells Fargo & Company upped their target price on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. UBS Group set a $408.00 price target on shares of Stryker in a research report on Monday, October 13th. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 target price on shares of Stryker in a research note on Friday, November 14th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.00.

Stryker Stock Performance

Shares of Stryker stock opened at $364.45 on Tuesday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm’s 50-day moving average is $360.39 and its 200 day moving average is $373.60. The stock has a market cap of $139.37 billion, a price-to-earnings ratio of 47.89, a PEG ratio of 2.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13.

Stryker (NYSE:SYK) last issued its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.06. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.87 earnings per share. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.88 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s payout ratio is currently 46.25%.

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.