Ferguson Wellman Capital Management Inc. Cuts Stake in Stryker Co. (NYSE:SYK)

Ferguson Wellman Capital Management Inc. cut its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,876 shares of the medical technology company's stock after selling 13,665 shares during the period. Stryker makes up 1.2% of Ferguson Wellman Capital Management Inc.'s holdings, making the stock its 24th biggest holding. Ferguson Wellman Capital Management Inc.'s holdings in Stryker were worth $57,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in SYK. Harbor Investment Advisory LLC boosted its stake in shares of Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company's stock valued at $2,499,000 after purchasing an additional 31 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company's stock valued at $507,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc boosted its stake in shares of Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company's stock valued at $294,000 after purchasing an additional 33 shares during the period. Stanley Laman Group Ltd. lifted its stake in Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company's stock worth $256,000 after acquiring an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC grew its holdings in Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company's stock worth $3,224,000 after acquiring an additional 33 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SYK shares. Barclays boosted their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Piper Sandler reiterated an "overweight" rating and set a $380.00 price target on shares of Stryker in a report on Tuesday, September 10th. Needham & Company LLC boosted their price target on shares of Stryker from $392.00 to $393.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. UBS Group boosted their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Finally, Morgan Stanley boosted their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $381.16.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company's stock, valued at $3,715,540. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by insiders.

Stryker Stock Performance

SYK stock traded up $9.83 on Friday, hitting $369.56. The company's stock had a trading volume of 1,589,555 shares, compared to its average volume of 1,253,560. The firm has a 50 day moving average of $355.79 and a two-hundred day moving average of $343.26. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. The stock has a market cap of $140.78 billion, a price-to-earnings ratio of 42.19, a price-to-earnings-growth ratio of 2.78 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 EPS. Equities analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company 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 dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. Stryker's payout ratio is currently 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.