Valley National Advisers Inc. Raises Stock Holdings in Stryker Corporation $SYK

Valley National Advisers Inc. boosted its position in shares of Stryker Corporation (NYSE:SYK) by 2,107.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,717 shares of the medical technology company’s stock after buying an additional 5,458 shares during the quarter. Valley National Advisers Inc.’s holdings in Stryker were worth $2,112,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SYK. Consolidated Portfolio Review Corp boosted its holdings in shares of Stryker by 4.2% during the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 26 shares during the period. Princeton Global Asset Management LLC increased its holdings in Stryker by 16.9% during the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after purchasing an additional 26 shares during the period. Sunflower Bank N.A. raised its position in Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 27 shares during the last quarter. Pitti Group Wealth Management LLC lifted its holdings in Stryker by 3.2% in the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after buying an additional 27 shares during the period. Finally, Sachetta LLC lifted its holdings in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.2%

Shares of Stryker stock opened at $354.20 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm has a market cap of $135.45 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 2.51 and a beta of 0.89. The company has a 50-day moving average of $363.78 and a 200 day moving average of $376.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is currently 44.15%.

Analyst Ratings Changes

SYK has been the topic of several research analyst reports. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a research note on Friday, December 19th. Redburn Partners set a $420.00 price target on shares of Stryker in a report on Thursday, September 18th. BTIG Research restated a “buy” rating and issued a $410.00 price objective on shares of Stryker in a report on Friday, November 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Finally, Evercore ISI cut their target price on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $431.84.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 522,118 shares of company stock valued at $185,381,932 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

About Stryker

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.