Beacon Investment Advisory Services Inc. Sells 1,586 Shares of Stryker Corporation $SYK

Beacon Investment Advisory Services Inc. cut its holdings in Stryker Corporation (NYSE:SYK) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,714 shares of the medical technology company’s stock after selling 1,586 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Stryker were worth $23,184,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Brian Low Financial Group LLC lifted its position in Stryker by 25.6% during the third quarter. Brian Low Financial Group LLC now owns 2,256 shares of the medical technology company’s stock valued at $834,000 after purchasing an additional 460 shares in the last quarter. Baker Chad R raised its stake in shares of Stryker by 9.1% in the third quarter. Baker Chad R now owns 20,915 shares of the medical technology company’s stock worth $7,732,000 after buying an additional 1,745 shares during the period. Mogy Joel R Investment Counsel Inc. lifted its position in shares of Stryker by 0.7% during the 3rd quarter. Mogy Joel R Investment Counsel Inc. now owns 99,382 shares of the medical technology company’s stock valued at $36,738,000 after buying an additional 694 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $2,154,000. Finally, Richards Merrill & Peterson Inc. increased its holdings in Stryker by 1.6% in the 3rd quarter. Richards Merrill & Peterson Inc. now owns 13,158 shares of the medical technology company’s stock worth $4,864,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $354.20 on Friday. The business’s 50-day moving average is $363.78 and its 200 day moving average is $376.55. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a market capitalization of $135.45 billion, a P/E ratio of 46.54, a P/E/G ratio of 2.51 and a beta of 0.89. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.87 EPS. On average, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed 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 an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is 44.15%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock valued at $185,381,932 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SYK shares. Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Rothschild & Co Redburn started coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $448.00 price target on shares of Stryker in a research note on Friday, November 14th. Wells Fargo & Company boosted their price objective on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Finally, Truist Financial dropped their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.84.

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.