Benjamin Edwards Inc. Has $1.82 Million Holdings in Stryker Co. (NYSE:SYK)

Benjamin Edwards Inc. decreased its position in shares of Stryker Co. (NYSE:SYK) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,069 shares of the medical technology company’s stock after selling 35 shares during the period. Benjamin Edwards Inc.’s holdings in Stryker were worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Magellan Asset Management Ltd grew its holdings in shares of Stryker by 74,911.8% during the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after purchasing an additional 679,450 shares during the last quarter. Barclays PLC increased its position in Stryker by 103.5% in the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after acquiring an additional 551,798 shares in the last quarter. Morgan Stanley raised its stake in shares of Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after acquiring an additional 223,728 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Stryker by 24.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Stryker by 14.4% during the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after purchasing an additional 194,715 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 0.5 %

Shares of Stryker stock traded down $1.67 on Thursday, hitting $326.45. The company had a trading volume of 956,146 shares, compared to its average volume of 1,314,031. The firm has a market capitalization of $124.20 billion, a P/E ratio of 37.46, a P/E/G ratio of 2.71 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a 50-day moving average of $348.05 and a 200-day moving average of $316.78.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.44% and a net margin of 16.03%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the firm earned $2.14 earnings per share. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. Research analysts predict that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s dividend payout ratio is 36.53%.

Analyst Upgrades and Downgrades

SYK has been the topic of several research reports. Evercore ISI increased their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Wells Fargo & Company raised their target price on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler boosted their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $357.05.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 in the last quarter. Corporate 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.