Beacon Pointe Advisors LLC Sells 1,237 Shares of Stryker Co. (NYSE:SYK)

Beacon Pointe Advisors LLC decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,578 shares of the medical technology company’s stock after selling 1,237 shares during the period. Beacon Pointe Advisors LLC’s holdings in Stryker were worth $12,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc boosted its holdings in Stryker by 16.5% in the 3rd quarter. Morse Asset Management Inc now owns 1,410 shares of the medical technology company’s stock worth $509,000 after buying an additional 200 shares during the period. World Investment Advisors LLC boosted its holdings in Stryker by 126.1% in the 3rd quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company’s stock worth $2,941,000 after buying an additional 4,541 shares during the period. Arvest Bank Trust Division bought a new position in Stryker in the 3rd quarter worth $245,000. Wilmington Savings Fund Society FSB boosted its holdings in Stryker by 13.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 44,795 shares of the medical technology company’s stock worth $16,183,000 after buying an additional 5,361 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Stryker by 13.9% in the 3rd quarter. Tidal Investments LLC now owns 17,478 shares of the medical technology company’s stock worth $6,314,000 after buying an additional 2,139 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.4 %

Shares of NYSE SYK opened at $366.58 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business’s 50 day moving average price is $367.37 and its 200-day moving average price is $373.51. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a market cap of $139.92 billion, a price-to-earnings ratio of 47.24, a PEG ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $3.46 EPS. On average, sell-side analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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 paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. Citigroup reaffirmed a “buy” rating and issued a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Argus set a $450.00 price target on Stryker in a report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Truist Financial lifted their price objective on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $423.53.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred 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 transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

About Stryker

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.