Accurate Wealth Management LLC Cuts Stock Position in Stryker Co. (NYSE:SYK)

Accurate Wealth Management LLC lowered its position in Stryker Co. (NYSE:SYK) by 6.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,187 shares of the medical technology company’s stock after selling 80 shares during the quarter. Accurate Wealth Management LLC’s holdings in Stryker were worth $434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Avestar Capital LLC grew its position in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its position in shares of Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares during the last quarter. Grimes & Company Inc. grew its position in shares of Stryker by 0.4% in the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after buying an additional 33 shares during the last quarter. Moran Wealth Management LLC grew its position in Stryker by 0.4% during the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after purchasing an additional 34 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its position in Stryker by 0.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 7,547 shares of the medical technology company’s stock worth $2,719,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYK. UBS Group boosted their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Barclays boosted their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Citigroup boosted their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Performance

NYSE:SYK opened at $368.09 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a fifty day moving average of $375.13 and a two-hundred day moving average of $358.25. The stock has a market capitalization of $140.32 billion, a PE ratio of 39.45, a P/E/G ratio of 2.82 and a beta of 0.95. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 earnings per share. As a group, research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.91%. Stryker’s dividend payout ratio is presently 36.01%.

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.