Stryker Co. (NYSE:SYK) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital increased its stake in shares of Stryker Co. (NYSE:SYK) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,414 shares of the medical technology company’s stock after acquiring an additional 127 shares during the period. Wedmont Private Capital’s holdings in Stryker were worth $1,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SYK. Global Assets Advisory LLC acquired a new position in shares of Stryker in the 1st quarter valued at $341,049,000. JPMorgan Chase & Co. boosted its stake in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after purchasing an additional 375,166 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Down 0.1 %

SYK opened at $353.54 on Friday. The stock has a market capitalization of $134.73 billion, a PE ratio of 39.41, a P/E/G ratio of 2.73 and a beta of 0.91. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The business’s 50 day moving average price is $350.96 and its 200 day moving average price is $343.00.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 35.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYK. UBS Group increased their target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley raised their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Stifel Nicolaus dropped their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $379.37.

Insider Transactions at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on 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 directly owns 2,852 shares in the company, valued at $949,716. 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 at the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by insiders.

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.