Stryker Co. (NYSE:SYK) Position Boosted by Waldron Private Wealth LLC

Waldron Private Wealth LLC increased its holdings in Stryker Co. (NYSE:SYK) by 95.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,142 shares of the medical technology company’s stock after purchasing an additional 70,520 shares during the quarter. Stryker accounts for 2.2% of Waldron Private Wealth LLC’s investment portfolio, making the stock its 8th biggest position. Waldron Private Wealth LLC’s holdings in Stryker were worth $52,073,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Pegasus Asset Management Inc. boosted its stake in shares of Stryker by 1.4% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,709 shares of the medical technology company’s stock valued at $1,701,000 after purchasing an additional 64 shares in the last quarter. Eastern Bank boosted its stake in shares of Stryker by 313.5% during the 3rd quarter. Eastern Bank now owns 3,730 shares of the medical technology company’s stock valued at $1,347,000 after purchasing an additional 2,828 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Stryker by 1.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,236 shares of the medical technology company’s stock valued at $4,059,000 after purchasing an additional 187 shares in the last quarter. Sky Investment Group LLC boosted its stake in shares of Stryker by 3.7% during the 3rd quarter. Sky Investment Group LLC now owns 15,119 shares of the medical technology company’s stock valued at $5,462,000 after purchasing an additional 533 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in Stryker by 10.0% during the third quarter. Foundations Investment Advisors LLC now owns 1,753 shares of the medical technology company’s stock worth $633,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYK. Truist Financial boosted their price objective on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Needham & Company LLC boosted their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Evercore ISI lifted their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $381.16.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by insiders.

Stryker Price Performance

Shares of SYK traded down $1.04 during mid-day trading on Tuesday, reaching $366.21. The stock had a trading volume of 384,492 shares, compared to its average volume of 1,247,598. The firm has a market cap of $139.51 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 2.85 and a beta of 0.91. Stryker Co. has a 12 month low of $255.22 and a 12 month high of $374.63. The business has a fifty day moving average of $356.63 and a 200 day moving average of $343.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. Equities analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio is 36.53%.

About Stryker

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.