Stryker Corporation $SYK is Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s 6th Largest Position

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in Stryker Corporation (NYSE:SYK) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,157,924 shares of the medical technology company’s stock after selling 8,181 shares during the quarter. Stryker comprises approximately 3.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 6th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.30% of Stryker worth $443,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Two Point Capital Management Inc. purchased a new position in shares of Stryker in the 2nd quarter valued at about $7,281,000. Diversified Trust Co increased its holdings in Stryker by 45.6% in the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after buying an additional 3,899 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its position in shares of Stryker by 82.0% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 458,300 shares of the medical technology company’s stock valued at $181,235,000 after acquiring an additional 206,500 shares during the period. SVB Wealth LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at approximately $4,785,000. Finally, AXQ Capital LP purchased a new stake in shares of Stryker during the 2nd quarter worth approximately $567,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock valued at $185,381,932 in the last three months. 5.20% of the stock is currently owned by corporate insiders.

Stryker Stock Up 0.1%

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

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

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is presently 46.25%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYK. Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective for the company in a research note on Tuesday, January 6th. UBS Group set a $408.00 price objective on Stryker in a research report on Monday, October 13th. Citigroup reduced their price objective on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Truist Financial decreased their price target 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, Needham & Company LLC reiterated a “buy” rating and issued a $448.00 price target on shares of Stryker in a report on Friday, November 14th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $430.00.

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.