Greenwood Capital Associates LLC Raises Position in Stryker Co. (NYSE:SYK)

Greenwood Capital Associates LLC lifted its position in Stryker Co. (NYSE:SYK) by 2.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,964 shares of the medical technology company’s stock after acquiring an additional 519 shares during the period. Stryker comprises about 1.1% of Greenwood Capital Associates LLC’s investment portfolio, making the stock its 24th biggest holding. Greenwood Capital Associates LLC’s holdings in Stryker were worth $8,296,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. purchased a new stake in shares of Stryker during the first quarter valued at $795,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Stryker by 43.1% during 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 during the last quarter. 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 worth $7,084,000 after purchasing an additional 5,502 shares during the last quarter. 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 worth $45,260,000 after purchasing an additional 58,673 shares during the last quarter. Finally, M&G Plc bought a new stake in Stryker in the 1st quarter worth approximately $11,534,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. 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 can be accessed through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,068 shares of company stock valued at $3,693,972 in the last 90 days. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SYK shares. BTIG Research raised their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial raised their price objective on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

NYSE SYK opened at $366.90 on Tuesday. The business has a 50-day moving average price of $360.43 and a 200-day moving average price of $344.64. The firm has a market cap of $139.87 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. Stryker Co. has a twelve month low of $266.93 and a twelve month high of $374.63. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the firm posted $2.46 EPS. The company’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s payout ratio is currently 34.30%.

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.