Moss Adams Wealth Advisors LLC Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

Moss Adams Wealth Advisors LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 751 shares of the medical technology company’s stock after buying an additional 58 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Stryker were worth $272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC increased its position in Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after acquiring an additional 31 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc raised its stake in shares of Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 33 shares in the last quarter. Stanley Laman Group Ltd. lifted its holdings in Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares during the period. Finally, Plimoth Trust Co. LLC grew its position in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 2.7 %

Shares of NYSE:SYK opened at $369.56 on Friday. The firm has a 50 day simple moving average of $355.79 and a 200 day simple moving average of $343.26. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The company has a market cap of $140.83 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 35.67%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SYK. Evercore ISI upped their price target 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. Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. BTIG Research increased their price target on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Barclays boosted their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Truist Financial raised their target price on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $381.16.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last 90 days. Company insiders own 5.90% of the company’s stock.

About Stryker

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.