Kestra Advisory Services LLC Has $35.76 Million Stake in Stryker Co. (NYSE:SYK)

Kestra Advisory Services LLC trimmed its holdings in Stryker Co. (NYSE:SYK) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,096 shares of the medical technology company’s stock after selling 1,226 shares during the period. Kestra Advisory Services LLC’s holdings in Stryker were worth $35,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $25,000. Dunhill Financial LLC raised its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new stake in Stryker during the fourth quarter worth $33,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYK. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Royal Bank of Canada upped their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. Truist Financial upped their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Five equities 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 $421.90.

Stryker Stock Performance

Shares of Stryker stock opened at $369.96 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $383.04 and a two-hundred day moving average price of $373.37. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a market cap of $141.17 billion, a P/E ratio of 47.68, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the company posted $3.46 earnings per share. As a group, analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.91%. Stryker’s payout ratio is currently 43.30%.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.