Sterling Investment Counsel LLC Purchases Shares of 2,489 Stryker Corporation $SYK

by · The Cerbat Gem

Sterling Investment Counsel LLC acquired a new position in Stryker Corporation (NYSE:SYK – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,489 shares of the medical technology company’s stock, valued at approximately $920,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker during the second quarter valued at $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker in the 3rd quarter worth about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker during the 2nd quarter valued at about $28,000. Sachetta LLC lifted its holdings in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the last quarter. Finally, Kilter Group LLC purchased a new position in Stryker in the second quarter worth about $29,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

SYK opened at $351.28 on Friday. The business has a fifty day moving average of $361.31 and a 200 day moving average of $375.75. The stock has a market cap of $134.34 billion, a P/E ratio of 46.16, a PEG ratio of 2.49 and a beta of 0.89. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK – Get Free Report) last issued its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.87 earnings per share. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

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

Insider Buying and Selling

In other news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 522,118 shares of company stock valued at $185,381,932 over the last quarter. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent research reports. Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. UBS Group set a $408.00 target price on Stryker in a research report on Monday, October 13th. Wells Fargo & Company raised their price target on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Rothschild & Co Redburn began coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. Finally, Redburn Partners set a $420.00 price objective on shares of Stryker in a research report on Thursday, September 18th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $431.84.

Check Out Our Latest Analysis on Stryker

Stryker Profile

(Free Report)

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.

Further Reading

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