First Republic Investment Management Inc. raised its position in Stryker Co. (NYSE:SYK – Get Rating) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,116 shares of the medical technology company’s stock after purchasing an additional 6,154 shares during the quarter. First Republic Investment Management Inc.’s holdings in Stryker were worth $24,733,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in Stryker during the 1st quarter worth approximately $131,000. Dimensional Fund Advisors LP increased its holdings in Stryker by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock worth $180,182,000 after purchasing an additional 9,026 shares during the last quarter. Prudential PLC purchased a new stake in Stryker during the 1st quarter worth approximately $1,444,000. Sequoia Financial Advisors LLC increased its holdings in Stryker by 21.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock worth $817,000 after purchasing an additional 543 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its holdings in Stryker by 9.2% during the 1st quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock worth $839,000 after purchasing an additional 265 shares during the last quarter. 77.10% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Stryker
In other Stryker news, Director Srikant M. Datar sold 300 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $212.36, for a total value of $63,708.00. Following the transaction, the director now owns 4,861 shares in the company, valued at $1,032,281.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP M Kathryn Fink sold 3,536 shares of the company’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $260.00, for a total transaction of $919,360.00. Following the completion of the sale, the vice president now owns 9,264 shares in the company, valued at approximately $2,408,640. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Srikant M. Datar sold 300 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $212.36, for a total value of $63,708.00. Following the sale, the director now owns 4,861 shares of the company’s stock, valued at approximately $1,032,281.96. The disclosure for this sale can be found here. Insiders have sold 80,079 shares of company stock worth $19,354,832 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.
Stryker Stock Down 0.7 %
Stryker (NYSE:SYK – Get Rating) last announced its earnings results on Monday, October 31st. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.12). The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.46 billion. Stryker had a return on equity of 22.27% and a net margin of 13.69%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. On average, equities analysts predict that Stryker Co. will post 9.17 EPS for the current fiscal year.
Stryker Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be paid a $0.75 dividend. The ex-dividend date is Thursday, December 29th. This represents a $3.00 dividend on an annualized basis and a yield of 1.17%. This is an increase from Stryker’s previous quarterly dividend of $0.70. Stryker’s payout ratio is 46.66%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on SYK shares. Citigroup lifted their target price on Stryker from $249.00 to $282.00 in a research report on Monday, December 12th. Morgan Stanley lifted their target price on Stryker from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Friday, January 6th. Cowen lifted their target price on Stryker from $233.00 to $283.00 in a research report on Wednesday, December 14th. Barclays boosted their price objective on Stryker from $257.00 to $265.00 in a research report on Wednesday, January 4th. Finally, Truist Financial boosted their price objective on Stryker from $230.00 to $252.00 and gave the company a “hold” rating in a research report on Tuesday, December 20th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $260.68.
Stryker Corp. operates as a medical technology company. It operates through the following segments: Orthopaedics & Spine and MedSurg & Neurotechnology. The Orthopaedics & Spine segment provides implants for use in total joint replacements, such as hip, knee, and shoulder, and trauma and extremities surgeries.
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