Wedmont Private Capital Increases Holdings in Stryker Co. (NYSE:SYK)

Wedmont Private Capital boosted its position in Stryker Co. (NYSE:SYK) by 7.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,669 shares of the medical technology company’s stock after purchasing an additional 255 shares during the period. Wedmont Private Capital’s holdings in Stryker were worth $1,342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Parnassus Investments LLC purchased a new position in shares of Stryker in the third quarter valued at $762,798,000. International Assets Investment Management LLC grew its stake in Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the last quarter. RTW Investments LP purchased a new position in Stryker during the 3rd quarter valued at about $143,392,000. State Street Corp lifted its holdings in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Stryker by 49.8% in the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after purchasing an additional 228,139 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % 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. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Truist Financial boosted their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Price Performance

SYK opened at $360.96 on Tuesday. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The company has a 50 day moving average of $375.28 and a two-hundred day moving average of $358.09. The company has a market cap of $137.60 billion, a P/E ratio of 38.69, a P/E/G ratio of 2.82 and a beta of 0.95. 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 results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 EPS. On average, analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

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.