Octavia Wealth Advisors LLC Raises Holdings in Stryker Co. (NYSE:SYK)

Octavia Wealth Advisors LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,594 shares of the medical technology company’s stock after purchasing an additional 144 shares during the period. Octavia Wealth Advisors LLC’s holdings in Stryker were worth $577,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sanibel Captiva Trust Company Inc. bought a new position in shares of Stryker during the 4th quarter valued at $17,621,000. D L Carlson Investment Group Inc. purchased a new position in shares of Stryker during the fourth quarter valued at about $3,251,000. GLOBALT Investments LLC GA purchased a new position in shares of Stryker during the fourth quarter valued at about $4,620,000. Novak & Powell Financial Services Inc. purchased a new position in Stryker in the fourth quarter worth about $299,000. Finally, V Square Quantitative Management LLC grew its position in Stryker by 93.7% in the fourth quarter. V Square Quantitative Management LLC now owns 3,287 shares of the medical technology company’s stock worth $984,000 after acquiring an additional 1,590 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Truist Financial dropped their target price on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. BTIG Research raised their price target on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley lifted their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker Trading Up 0.6 %

Shares of SYK stock opened at $355.52 on Friday. The stock has a market capitalization of $135.48 billion, a P/E ratio of 39.63, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The company has a 50 day moving average price of $351.84 and a 200 day moving average price of $343.10.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the firm posted $2.54 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 35.67%.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This 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 available through this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This 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 stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, 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. In the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. 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.