Executive Wealth Management LLC Invests $1.57 Million in Stryker Co. (NYSE:SYK)

Executive Wealth Management LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,343 shares of the medical technology company's stock, valued at approximately $1,569,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Wealth Enhancement Advisory Services LLC grew its stake in shares of Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company's stock worth $45,260,000 after buying an additional 58,673 shares in the last quarter. OFI Invest Asset Management boosted its stake in shares of Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company's stock worth $1,062,000 after purchasing an additional 3,243 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its holdings in Stryker by 2.4% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company's stock valued at $24,089,000 after buying an additional 1,554 shares in the last quarter. Sivik Global Healthcare LLC lifted its holdings in Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company's stock valued at $9,754,000 after buying an additional 2,000 shares in the last quarter. Finally, Parnassus Investments LLC bought a new stake in Stryker during the 3rd quarter valued at about $762,798,000. Institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Stryker stock traded up $1.76 during mid-day trading on Tuesday, reaching $382.87. 1,281,748 shares of the company traded hands, compared to its average volume of 1,262,002. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The company has a market capitalization of $145.96 billion, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94. The firm's fifty day moving average is $371.49 and its two-hundred day moving average is $354.02.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 earnings per share. On average, equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio is presently 34.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SYK shares. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of Stryker from $381.00 to $405.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Barclays boosted their price target on shares of Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Piper Sandler restated an "overweight" rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, BTIG Research boosted their price target on shares of Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus price target of $398.40.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction 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. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction 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 trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,781 shares of company stock worth $24,612,275 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

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.