IVC Wealth Advisors LLC Sells 745 Shares of Stryker Co. (NYSE:SYK)

IVC Wealth Advisors LLC lessened its stake in Stryker Co. (NYSE:SYK) by 30.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,718 shares of the medical technology company’s stock after selling 745 shares during the period. IVC Wealth Advisors LLC’s holdings in Stryker were worth $621,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Centennial Bank AR raised its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Stryker during the 1st quarter valued at about $39,000. HBW Advisory Services LLC purchased a new position in Stryker during the 3rd quarter valued at about $42,000. Grove Bank & Trust lifted its position in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. Finally, DT Investment Partners LLC lifted its holdings in Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 2.0 %

Stryker stock opened at $352.82 on Monday. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63. The firm has a market cap of $134.41 billion, a price-to-earnings ratio of 40.28, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The business’s 50-day moving average price is $358.80 and its 200 day moving average price is $343.65. 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 earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the business posted $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYK. Stifel Nicolaus cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Truist Financial raised their target price on shares of Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and set a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. BTIG Research upped their price objective on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Evercore ISI lifted their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 in the last three months. 5.90% of the stock is currently owned by company insiders.

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.