MONECO Advisors LLC Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

MONECO Advisors LLC increased its position in Stryker Co. (NYSE:SYK) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,035 shares of the medical technology company’s stock after acquiring an additional 96 shares during the period. MONECO Advisors LLC’s holdings in Stryker were worth $733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYK. Howard Capital Management Inc. increased its position in Stryker by 5.2% during the fourth quarter. Howard Capital Management Inc. now owns 2,201 shares of the medical technology company’s stock valued at $792,000 after acquiring an additional 108 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Stryker by 2.9% during the 4th quarter. First Horizon Advisors Inc. now owns 2,146 shares of the medical technology company’s stock valued at $773,000 after buying an additional 61 shares in the last quarter. Pinnacle Financial Partners Inc lifted its position in shares of Stryker by 1.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 6,795 shares of the medical technology company’s stock valued at $2,447,000 after acquiring an additional 84 shares in the last quarter. Callan Capital LLC boosted its stake in Stryker by 6.1% in the 4th quarter. Callan Capital LLC now owns 701 shares of the medical technology company’s stock worth $252,000 after purchasing an additional 40 shares during the period. Finally, Dividend Assets Capital LLC boosted its position in shares of Stryker by 4.0% during the fourth quarter. Dividend Assets Capital LLC now owns 29,093 shares of the medical technology company’s stock worth $10,475,000 after acquiring an additional 1,124 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

NYSE:SYK opened at $382.59 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market cap of $145.99 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The firm’s fifty day moving average price is $378.07 and its 200 day moving average price is $369.34. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) 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 earnings per share. On average, sell-side analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is presently 43.30%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now directly 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 through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SYK shares. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Wednesday, January 29th. Truist Financial lifted their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Argus set a $450.00 price target on Stryker in a report on Monday, February 3rd. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, 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 report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker 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.