Burling Wealth Partners LLC Boosts Holdings in Stryker Corporation $SYK

Burling Wealth Partners LLC raised its position in Stryker Corporation (NYSE:SYK) by 34.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,743 shares of the medical technology company’s stock after purchasing an additional 3,021 shares during the period. Burling Wealth Partners LLC’s holdings in Stryker were worth $4,341,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. King Luther Capital Management Corp grew its position in Stryker by 3.2% during the third quarter. King Luther Capital Management Corp now owns 461,653 shares of the medical technology company’s stock worth $170,659,000 after buying an additional 14,174 shares in the last quarter. Harold Davidson & Associates Inc. raised its holdings in shares of Stryker by 41.3% in the 3rd quarter. Harold Davidson & Associates Inc. now owns 8,687 shares of the medical technology company’s stock valued at $3,211,000 after acquiring an additional 2,538 shares in the last quarter. Comgest Global Investors S.A.S. boosted its position in shares of Stryker by 16.2% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 98,944 shares of the medical technology company’s stock valued at $36,577,000 after acquiring an additional 13,806 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of Stryker during the 3rd quarter valued at about $236,000. Finally, Syon Capital LLC grew its holdings in shares of Stryker by 9.3% during the third quarter. Syon Capital LLC now owns 6,685 shares of the medical technology company’s stock worth $2,471,000 after purchasing an additional 570 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $377.08 on Thursday. The firm has a fifty day simple moving average of $359.13 and a two-hundred day simple moving average of $368.93. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87. The company has a market capitalization of $144.30 billion, a PE ratio of 44.89, a P/E/G ratio of 2.16 and a beta of 0.87.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYK. The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a research note on Friday, January 9th. Robert W. Baird set a $437.00 price target on shares of Stryker in a report on Friday, January 30th. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a report on Friday, December 19th. Truist Financial cut their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Finally, Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.94.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the company’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 $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by insiders.

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.