Avior Wealth Management LLC Sells 1,637 Shares of Stryker Co. (NYSE:SYK)

Avior Wealth Management LLC decreased its stake in shares of Stryker Co. (NYSE:SYK) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,483 shares of the medical technology company’s stock after selling 1,637 shares during the period. Avior Wealth Management LLC’s holdings in Stryker were worth $3,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC raised its position in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR grew its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker in the third quarter worth $36,000. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter valued at $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Finally, Truist Financial increased their target price on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Price Performance

Shares of SYK opened at $393.79 on Friday. The firm has a market cap of $150.12 billion, a PE ratio of 42.21, a P/E/G ratio of 2.68 and a beta of 0.95. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $375.82 and a two-hundred day simple moving average of $360.16.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm posted $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.85%. Stryker’s dividend payout ratio (DPR) 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.