Avidian Wealth Enterprises LLC Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

Avidian Wealth Enterprises LLC grew its position in shares of Stryker Co. (NYSE:SYK) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,680 shares of the medical technology company’s stock after acquiring an additional 73 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Stryker were worth $965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC raised its stake in shares of Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after acquiring an additional 28 shares during the last quarter. Alhambra Investment Management LLC raised its stake in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after acquiring an additional 29 shares during the last quarter. Capital & Planning LLC raised its stake in Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after buying an additional 29 shares in the last quarter. Concord Wealth Partners raised its stake in Stryker by 2.2% in the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock worth $503,000 after buying an additional 30 shares in the last quarter. Finally, Avestar Capital LLC raised its stake in Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Down 1.3 %

NYSE:SYK opened at $385.49 on Thursday. The company’s 50 day moving average price is $377.27 and its 200-day moving average price is $366.01. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market cap of $146.96 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the previous year, the business earned $3.46 EPS. On average, equities research analysts forecast that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Truist Financial increased their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Citigroup increased their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price target on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $420.68.

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.