Burling Wealth Partners LLC Acquires 3,021 Shares of Stryker Corporation $SYK

Burling Wealth Partners LLC raised its holdings in Stryker Corporation (NYSE:SYK) by 34.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,743 shares of the medical technology company’s stock after buying an additional 3,021 shares during the quarter. Burling Wealth Partners LLC’s holdings in Stryker were worth $4,341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Stryker in the 2nd quarter worth $1,882,173,000. Alliancebernstein L.P. increased its position in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after buying an additional 4,223,366 shares during the period. Corient Private Wealth LLC raised its stake in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after buying an additional 1,146,998 shares in the last quarter. ABN AMRO Bank N.V. purchased a new stake in Stryker in the second quarter worth about $191,047,000. Finally, Vanguard Group Inc. lifted its holdings in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after buying an additional 440,607 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Truist Financial reduced their price target on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research report on Friday, December 19th. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a research report on Tuesday, January 6th. Finally, Needham & Company LLC increased their price target on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $426.94.

Stryker Stock Up 2.1%

Shares of Stryker stock opened at $377.08 on Thursday. The company has a 50-day simple moving average of $359.13 and a two-hundred day simple moving average of $368.93. The stock has a market capitalization of $144.30 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the business earned $4.01 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. On average, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. Stryker’s dividend payout ratio is 41.90%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker 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.