Good Life Advisors LLC Invests $628,000 in Stryker Co. (NYSE:SYK)

Good Life Advisors LLC bought a new position in Stryker Co. (NYSE:SYK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,096 shares of the medical technology company’s stock, valued at approximately $628,000.

Other large investors also recently modified their holdings of the company. Keybank National Association OH boosted its position in shares of Stryker by 3.5% in the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after purchasing an additional 952 shares in the last quarter. CoreCap Advisors LLC raised its holdings in Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after acquiring an additional 191 shares during the last quarter. DNB Asset Management AS raised its holdings in Stryker by 5.7% in the 4th quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock worth $22,883,000 after acquiring an additional 4,143 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Stryker during the 3rd quarter valued at $30,365,000. Finally, Contravisory Investment Management Inc. purchased a new stake in Stryker during the 3rd quarter valued at $6,578,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SYK shares. Roth Mkm boosted their target price on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and upped their target price for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Truist Financial upped their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Finally, Wells Fargo & Company increased their price objective on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $331.52.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK traded down $0.84 during trading hours on Thursday, reaching $357.87. The company had a trading volume of 1,074,732 shares, compared to its average volume of 1,324,313. The firm has a 50 day simple moving average of $342.51 and a 200-day simple moving average of $305.23. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $135.97 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 2.86 and a beta of 0.89. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same period last year, the firm posted $3.00 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts expect that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s dividend payout ratio is presently 38.79%.

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.