Stryker Corporation $SYK Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in Stryker Corporation (NYSE:SYK) by 0.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,157,924 shares of the medical technology company’s stock after selling 8,181 shares during the quarter. Stryker accounts for about 3.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 6th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Stryker were worth $443,555,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SYK. Two Point Capital Management Inc. bought a new position in Stryker during the second quarter valued at about $7,281,000. Diversified Trust Co grew its stake in Stryker by 45.6% during the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock worth $4,601,000 after buying an additional 3,899 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Stryker by 82.0% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 458,300 shares of the medical technology company’s stock worth $181,235,000 after buying an additional 206,500 shares in the last quarter. SVB Wealth LLC bought a new stake in Stryker during the 2nd quarter worth approximately $4,785,000. Finally, AXQ Capital LP acquired a new stake in Stryker during the 2nd quarter valued at $567,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SYK. Citigroup lowered their target price on Stryker from $455.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. UBS Group set a $408.00 price target on shares of Stryker in a research report on Monday, October 13th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Finally, Rothschild & Co Redburn started coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $430.00.

Insider Transactions at Stryker

In related news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 522,118 shares of company stock worth $185,381,932 over the last three months. 5.20% of the stock is owned by company insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $367.75 on Monday. The firm has a 50 day moving average of $359.91 and a 200-day moving average of $374.96. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $140.64 billion, a PE ratio of 48.32, a PEG ratio of 2.35 and a beta of 0.89.

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

Stryker Increases Dividend

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

About Stryker

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.