Beacon Investment Advisory Services Inc. Sells 2,520 Shares of Stryker Corporation $SYK

Beacon Investment Advisory Services Inc. lessened its holdings in Stryker Corporation (NYSE:SYK) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 60,194 shares of the medical technology company’s stock after selling 2,520 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Stryker were worth $21,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SYK. Clayton Financial Group LLC bought a new position in shares of Stryker in the third quarter worth about $26,000. United Financial Planning Group LLC bought a new stake in Stryker during the 3rd quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker in the 2nd quarter worth approximately $28,000. Kilter Group LLC bought a new position in Stryker in the 2nd quarter worth approximately $29,000. Finally, Howard Hughes Medical Institute bought a new position in Stryker in the 2nd quarter worth approximately $29,000. 77.09% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Stryker Stock Up 0.0%

NYSE SYK opened at $327.49 on Monday. The stock has a 50 day moving average price of $360.17 and a 200-day moving average price of $363.56. Stryker Corporation has a one year low of $324.93 and a one year high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The company has a market capitalization of $125.42 billion, a P/E ratio of 38.99, a P/E/G ratio of 1.91 and a beta of 0.85.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the business posted $4.01 earnings per share. Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is currently 41.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective on the stock. in a research report on Monday, January 26th. The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a research note on Friday, January 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $465.00 price target on shares of Stryker in a report on Wednesday, March 4th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Finally, William Blair reissued an “outperform” rating on shares of Stryker in a report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $427.50.

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.