Beacon Investment Advisory Services Inc. Trims Position in Stryker Corporation (NYSE:SYK)

Beacon Investment Advisory Services Inc. cut its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,282 shares of the medical technology company's stock after selling 1,525 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Stryker were worth $25,418,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Stryker during the 4th quarter valued at about $1,710,744,000. GAMMA Investing LLC grew its position in Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after buying an additional 2,070,133 shares during the period. FMR LLC grew its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Stryker during the fourth quarter valued at approximately $154,140,000. Finally, Northern Trust Corp raised its position in Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after acquiring an additional 420,153 shares during the period. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

Shares of Stryker stock traded down $4.08 during trading on Thursday, reaching $396.85. 1,711,788 shares of the stock traded hands, compared to its average volume of 1,143,923. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The business has a fifty day simple moving average of $386.10 and a two-hundred day simple moving average of $378.65. The company has a market capitalization of $151.47 billion, a price-to-earnings ratio of 53.63, a P/E/G ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter last year, the business posted $2.50 EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SYK shares. Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Roth Mkm raised their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Truist Financial raised their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Finally, Citigroup reiterated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

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.