Stryker Corporation (NYSE:SYK) Shares Sold by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV lowered its holdings in Stryker Corporation (NYSE:SYK) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 9,419 shares of the medical technology company’s stock after selling 137 shares during the quarter. Stryker makes up 1.3% of Investment Advisory Services Inc. TX ADV’s holdings, making the stock its 19th largest holding. Investment Advisory Services Inc. TX ADV’s holdings in Stryker were worth $3,506,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYK. Balefire LLC grew its position in Stryker by 5.8% during the 1st quarter. Balefire LLC now owns 567 shares of the medical technology company’s stock worth $211,000 after purchasing an additional 31 shares during the period. KPP Advisory Services LLC grew its holdings in Stryker by 8.3% during the first quarter. KPP Advisory Services LLC now owns 1,125 shares of the medical technology company’s stock worth $419,000 after acquiring an additional 86 shares during the period. Penobscot Investment Management Company Inc. boosted its position in Stryker by 1.6% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 42,001 shares of the medical technology company’s stock worth $15,635,000 after purchasing an additional 646 shares in the last quarter. Western Wealth Management LLC lifted its stake in shares of Stryker by 64.8% in the 1st quarter. Western Wealth Management LLC now owns 2,959 shares of the medical technology company’s stock valued at $1,101,000 after purchasing an additional 1,164 shares during the period. Finally, Nvest Financial LLC boosted its holdings in Stryker by 26.7% during the first quarter. Nvest Financial LLC now owns 2,930 shares of the medical technology company’s stock worth $1,091,000 after buying an additional 617 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 1.5%

NYSE SYK opened at $392.36 on Thursday. The business’s fifty day simple moving average is $377.18 and its 200-day simple moving average is $375.31. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm has a market cap of $149.76 billion, a PE ratio of 53.02, a P/E/G ratio of 2.91 and a beta of 0.91. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 earnings per share. As a group, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYK shares. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Evercore ISI cut their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Finally, Truist Financial upped their target price on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $427.30.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.90% of the company’s stock.

Stryker Company 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.