Financial Advocates Investment Management Sells 840 Shares of Stryker Co. (NYSE:SYK)

Financial Advocates Investment Management decreased its stake in Stryker Co. (NYSE:SYK) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,251 shares of the medical technology company’s stock after selling 840 shares during the period. Financial Advocates Investment Management’s holdings in Stryker were worth $1,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Alhambra Investment Management LLC increased its stake in Stryker by 1.5% in the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after acquiring an additional 29 shares during the last quarter. Capital & Planning LLC increased its position in shares of Stryker by 3.6% during the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the last quarter. Concord Wealth Partners raised its holdings in shares of Stryker by 2.2% during the 4th quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock valued at $503,000 after buying an additional 30 shares in the last quarter. Avestar Capital LLC lifted its position in 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. Finally, Union Savings Bank boosted its stake in Stryker by 1.0% in the fourth quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SYK shares. Barclays lifted their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Citigroup lifted their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Stifel Nicolaus increased their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $419.37.

Stryker Trading Down 1.2 %

Shares of SYK opened at $391.42 on Friday. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The firm has a market capitalization of $149.22 billion, a price-to-earnings ratio of 50.44, a PEG ratio of 2.78 and a beta of 0.96. The firm’s 50-day moving average price is $377.25 and its 200-day moving average price is $364.47. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its 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 business posted $3.46 EPS. Sell-side analysts anticipate that Stryker Co. will post 13.5 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

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.