Stryker Corporation $SYK Holdings Raised by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its stake in Stryker Corporation (NYSE:SYK) by 2.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 88,842 shares of the medical technology company’s stock after purchasing an additional 2,360 shares during the quarter. D.A. Davidson & CO.’s holdings in Stryker were worth $32,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Consolidated Portfolio Review Corp increased its position in shares of Stryker by 4.2% in the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 26 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in Stryker by 16.9% in the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after purchasing an additional 26 shares during the period. Sunflower Bank N.A. grew its position in Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC raised its stake in Stryker by 3.2% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock valued at $341,000 after purchasing an additional 27 shares during the period. Finally, Sachetta LLC lifted its holdings in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $348.12 on Monday. The firm has a market cap of $133.13 billion, a PE ratio of 45.74, a PEG ratio of 2.23 and a beta of 0.89. The firm’s 50 day moving average price is $360.63 and its 200 day moving average price is $375.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. Stryker’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.87 EPS. As a group, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. This is an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio is 46.25%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. BTIG Research restated a “buy” rating and set a $410.00 price objective on shares of Stryker in a research report on Friday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $448.00 price target on shares of Stryker in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Truist Financial dropped their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Finally, Rothschild & Co Redburn started coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.84.

Insiders Place Their Bets

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares in the company, valued at $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock valued at $185,381,932 over the last quarter. Insiders own 5.20% of the company’s stock.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.