Valeo Financial Advisors LLC Has $2.96 Million Stock Holdings in Stryker Corporation $SYK

Valeo Financial Advisors LLC lowered its holdings in shares of Stryker Corporation (NYSE:SYK) by 16.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,016 shares of the medical technology company’s stock after selling 1,556 shares during the period. Valeo Financial Advisors LLC’s holdings in Stryker were worth $2,963,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after acquiring an additional 609 shares during the period. Venture Visionary Partners LLC raised its holdings in shares of Stryker by 21.7% during the second quarter. Venture Visionary Partners LLC now owns 5,199 shares of the medical technology company’s stock valued at $2,057,000 after purchasing an additional 926 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Stryker by 23.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 85,479 shares of the medical technology company’s stock worth $33,818,000 after purchasing an additional 16,322 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Stryker by 29.9% in the 2nd quarter. Raleigh Capital Management Inc. now owns 178 shares of the medical technology company’s stock valued at $70,000 after buying an additional 41 shares during the period. Finally, Capital Investment Advisors LLC grew its stake in shares of Stryker by 1.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 3,299 shares of the medical technology company’s stock valued at $1,305,000 after buying an additional 59 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on SYK shares. Evercore ISI set a $390.00 price target on Stryker in a report on Monday, January 5th. BTIG Research reaffirmed a “buy” rating and set a $410.00 target price on shares of Stryker in a research report on Friday, November 14th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $425.94.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction that occurred on 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 owned 2,702,108 shares in the company, valued at $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 522,118 shares of company stock worth $185,381,932 over the last quarter. 5.20% of the stock is currently owned by company insiders.

Stryker Trading Up 1.0%

Shares of SYK stock opened at $358.19 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The company has a market capitalization of $136.98 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 2.27 and a beta of 0.89. The company has a 50-day simple moving average of $359.50 and a two-hundred day simple moving average of $372.07. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter last year, the company posted $2.87 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Stryker Corporation will post 13.47 EPS 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 issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s payout ratio is currently 46.25%.

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.