Soltis Investment Advisors LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

Soltis Investment Advisors LLC increased its stake in Stryker Co. (NYSE:SYK) by 7.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,350 shares of the medical technology company’s stock after buying an additional 93 shares during the period. Soltis Investment Advisors LLC’s holdings in Stryker were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. FMR LLC boosted its stake in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares during the last quarter. Parnassus Investments LLC purchased a new position in shares of Stryker during the 3rd quarter worth $762,798,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after acquiring an additional 28,421 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group lifted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the company’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 transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $392.15 on Tuesday. The company’s 50-day moving average price is $377.23 and its 200-day moving average price is $365.14. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a market cap of $149.50 billion, a PE ratio of 50.53, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96.

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 net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the firm posted $3.46 EPS. On average, equities research analysts forecast that Stryker Co. will post 13.49 EPS for the current fiscal 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 $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

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.