Coldstream Capital Management Inc. Increases Position in Stryker Co. (NYSE:SYK)

Coldstream Capital Management Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 24.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,348 shares of the medical technology company's stock after purchasing an additional 1,458 shares during the quarter. Coldstream Capital Management Inc.'s holdings in Stryker were worth $2,670,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Parnassus Investments LLC acquired a new position in Stryker during the 3rd quarter worth about $762,798,000. International Assets Investment Management LLC lifted its position in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company's stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP purchased a new stake in Stryker during the 3rd quarter worth approximately $143,392,000. American Century Companies Inc. lifted its holdings in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company's stock worth $172,033,000 after buying an additional 375,166 shares in the last quarter. Finally, State Street Corp boosted its position in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after buying an additional 316,404 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

Shares of Stryker stock traded down $6.78 during trading on Wednesday, reaching $375.90. The company's stock had a trading volume of 1,213,982 shares, compared to its average volume of 1,261,801. The business has a 50 day moving average price of $372.00 and a 200-day moving average price of $354.36. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The company has a market capitalization of $143.30 billion, a P/E ratio of 40.29, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the prior year, the company posted $2.46 EPS. The business's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. This is an increase from Stryker's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker's payout ratio is presently 34.30%.

Wall Street Analyst Weigh In

SYK has been the topic of several recent research reports. Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Piper Sandler reiterated an "overweight" rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price target on shares of Stryker from $411.00 to $450.00 and gave the company a "buy" rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and an average target price of $402.70.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares of the company's stock, valued at $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Insiders own 5.50% of the company's stock.

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.