Net Worth Advisory Group Invests $571,000 in Stryker Co. (NYSE:SYK)

Net Worth Advisory Group acquired a new position in Stryker Co. (NYSE:SYK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,581 shares of the medical technology company’s stock, valued at approximately $571,000.

Several other large investors have also recently bought and sold shares of SYK. Centennial Bank AR grew its position in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Stryker in the 1st quarter worth about $39,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $42,000. Grove Bank & Trust lifted its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. Finally, Sachetta LLC grew its stake in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 2.7 %

NYSE SYK opened at $369.56 on Friday. The company has a market cap of $140.83 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.85 and a beta of 0.91. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $355.79 and a 200-day moving average of $343.26.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the company posted $2.54 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SYK. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. UBS Group increased their price target on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Insider Activity

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. 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.