Northstar Advisory Group LLC Sells 3,616 Shares of Stryker Corporation $SYK

Northstar Advisory Group LLC lessened its position in shares of Stryker Corporation (NYSE:SYK) by 83.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 719 shares of the medical technology company’s stock after selling 3,616 shares during the period. Northstar Advisory Group LLC’s holdings in Stryker were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new position in shares of Stryker in the second quarter worth $26,000. Clayton Financial Group LLC bought a new stake in Stryker during the third quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker during the second quarter worth about $28,000. Sachetta LLC increased its stake in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares during the last quarter. Finally, Kilter Group LLC purchased a new stake in shares of Stryker in the 2nd quarter valued at about $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’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 sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Preston Wendell Wells sold 165 shares of the business’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 transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $435.00 target price on shares of Stryker in a research note on Friday, November 14th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target on the stock in a research report on Tuesday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $448.00 price target on shares of Stryker in a research note on Friday, November 14th. BTIG Research reiterated a “buy” rating and set a $410.00 price objective on shares of Stryker in a research report on Friday, November 14th. Finally, Barclays raised their price objective on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $430.00.

Stryker Stock Up 0.6%

Shares of Stryker stock opened at $357.16 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company’s 50 day moving average price is $359.72 and its 200-day moving average price is $372.41. The stock has a market capitalization of $136.59 billion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 2.28 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the prior year, the company posted $2.87 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is presently 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.