Spire Wealth Management Cuts Stock Holdings in Stryker Corporation $SYK

Spire Wealth Management reduced its stake in Stryker Corporation (NYSE:SYK) by 76.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 701 shares of the medical technology company’s stock after selling 2,252 shares during the period. Spire Wealth Management’s holdings in Stryker were worth $259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Stryker in the 2nd quarter valued at about $1,882,173,000. Alliancebernstein L.P. increased its stake in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares during the period. Corient Private Wealth LLC increased its stake in shares of Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after buying an additional 1,146,998 shares during the period. ABN AMRO Bank N.V. acquired a new stake in Stryker in the second quarter valued at approximately $191,047,000. Finally, Vanguard Group Inc. lifted its stake in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after acquiring an additional 440,607 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 522,118 shares of company stock worth $185,381,932. 5.20% of the stock is owned by insiders.

Stryker Price Performance

Shares of SYK opened at $361.30 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The stock has a market cap of $138.17 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.89. The firm has a fifty day moving average price of $359.97 and a 200 day moving average price of $374.75.

Stryker (NYSE:SYK) last posted its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the previous year, the firm earned $2.87 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. This is a positive change from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s dividend payout ratio is presently 46.25%.

Analyst Ratings Changes

A number of brokerages have commented on SYK. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a research report on Friday, December 19th. Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. BTIG Research reissued a “buy” rating and issued a $410.00 target price on shares of Stryker in a report on Friday, November 14th. Sanford C. Bernstein raised their price target on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $448.00 price objective on shares of Stryker in a research report on Friday, November 14th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $430.00.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.