Prio Wealth Limited Partnership Grows Position in Stryker Co. (NYSE:SYK)

Prio Wealth Limited Partnership increased its position in shares of Stryker Co. (NYSE:SYK) by 4.2% during the third quarter, Holdings Channel reports. The institutional investor owned 5,326 shares of the medical technology company’s stock after buying an additional 215 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Stryker were worth $1,924,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SYK. Koshinski Asset Management Inc. acquired a new position in Stryker in the first quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC acquired a new position in Stryker in the first quarter valued at approximately $4,027,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Stryker by 38.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after purchasing an additional 5,502 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after purchasing an additional 58,673 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was 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 $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. 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 corporate insiders.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research analyst reports. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Needham & Company LLC increased their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley increased their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $381.16.

Stryker Stock Performance

Shares of Stryker stock traded down $0.93 during trading hours on Monday, hitting $368.63. 171,135 shares of the company were exchanged, compared to its average volume of 1,248,227. The business has a 50-day moving average of $355.79 and a 200-day moving average of $343.20. The stock has a market capitalization of $140.43 billion, a price-to-earnings ratio of 42.19, a P/E/G ratio of 2.85 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63.

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

Stryker Dividend Announcement

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

Stryker Company 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.