MONECO Advisors LLC Increases Holdings in Stryker Co. (NYSE:SYK)

MONECO Advisors LLC increased its holdings in shares of Stryker Co. (NYSE:SYK) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,939 shares of the medical technology company’s stock after purchasing an additional 213 shares during the quarter. MONECO Advisors LLC’s holdings in Stryker were worth $701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Financial Mangement LLC raised its position in shares of Stryker by 4.4% during the third quarter. Boston Financial Mangement LLC now owns 20,447 shares of the medical technology company’s stock valued at $7,387,000 after buying an additional 871 shares during the last quarter. Old Port Advisors increased its holdings in Stryker by 5.2% in the 3rd quarter. Old Port Advisors now owns 934 shares of the medical technology company’s stock valued at $337,000 after acquiring an additional 46 shares during the last quarter. Autumn Glory Partners LLC increased its holdings in Stryker by 139.8% in the 3rd quarter. Autumn Glory Partners LLC now owns 2,038 shares of the medical technology company’s stock valued at $737,000 after acquiring an additional 1,188 shares during the last quarter. Investment Partners Asset Management Inc. lifted its stake in Stryker by 7.6% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 705 shares of the medical technology company’s stock worth $255,000 after purchasing an additional 50 shares in the last quarter. Finally, Forbes J M & Co. LLP boosted its holdings in shares of Stryker by 3.6% during the 3rd quarter. Forbes J M & Co. LLP now owns 3,648 shares of the medical technology company’s stock valued at $1,318,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $359.25 on Wednesday. Stryker Co. has a 52 week low of $258.33 and a 52 week high of $374.63. The company has a market capitalization of $136.86 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The stock’s fifty day moving average is $359.43 and its two-hundred day moving average is $343.84. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.54 EPS. As a group, analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Insider Activity

In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research analyst reports. BTIG Research boosted their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC increased their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Finally, Truist Financial boosted their target price on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

Stryker 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.