Stryker Co. (NYSE:SYK) Stake Increased by Waldron Private Wealth LLC

Waldron Private Wealth LLC grew its stake in Stryker Co. (NYSE:SYK - Free Report) by 95.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,142 shares of the medical technology company's stock after acquiring an additional 70,520 shares during the quarter. Stryker comprises approximately 2.2% of Waldron Private Wealth LLC's investment portfolio, making the stock its 8th biggest position. Waldron Private Wealth LLC's holdings in Stryker were worth $52,073,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pegasus Asset Management Inc. increased its holdings in shares of Stryker by 1.4% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,709 shares of the medical technology company's stock worth $1,701,000 after buying an additional 64 shares during the last quarter. Eastern Bank raised its position in Stryker by 313.5% in the third quarter. Eastern Bank now owns 3,730 shares of the medical technology company's stock valued at $1,347,000 after purchasing an additional 2,828 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Stryker by 1.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,236 shares of the medical technology company's stock valued at $4,059,000 after purchasing an additional 187 shares during the last quarter. Sky Investment Group LLC grew its holdings in shares of Stryker by 3.7% during the 3rd quarter. Sky Investment Group LLC now owns 15,119 shares of the medical technology company's stock worth $5,462,000 after purchasing an additional 533 shares during the period. Finally, Foundations Investment Advisors LLC increased its position in shares of Stryker by 10.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,753 shares of the medical technology company's stock worth $633,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Down 0.3 %

Shares of SYK stock traded down $1.05 on Tuesday, reaching $366.20. 893,450 shares of the stock were exchanged, compared to its average volume of 1,250,070. The company has a market capitalization of $139.50 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 2.85 and a beta of 0.91. The business's 50 day moving average price is $357.37 and its 200 day moving average price is $343.45. 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 Co. has a twelve month low of $255.22 and a twelve month high of $374.63.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the prior year, the firm posted $2.54 EPS. The business's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.87%. Stryker's dividend payout ratio is currently 36.53%.

Analysts Set New Price Targets

A number of research analysts have commented on SYK shares. Truist Financial upped their target price on shares of Stryker from $345.00 to $370.00 and gave the company a "hold" rating in a research report on Monday, October 14th. UBS Group lifted their target price on shares of Stryker from $351.00 to $366.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Stifel Nicolaus decreased their price target on Stryker from $375.00 to $365.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Evercore ISI lifted their price objective on Stryker from $365.00 to $380.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Finally, StockNews.com upgraded Stryker from a "hold" rating to a "buy" rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and an average price target of $381.16.

Insider Activity at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm's 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 transaction, the vice president now directly owns 10,042 shares of the company's stock, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction 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 approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last ninety days. Insiders own 5.90% 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.