Waldron Private Wealth LLC Has $52.07 Million Stake in Stryker Co. (NYSE:SYK)

Waldron Private Wealth LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 95.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,142 shares of the medical technology company’s stock after acquiring an additional 70,520 shares during the period. Stryker makes up approximately 2.2% of Waldron Private Wealth LLC’s portfolio, making the stock its 8th biggest position. Waldron Private Wealth LLC’s holdings in Stryker were worth $52,073,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares in the last quarter. 1832 Asset Management L.P. increased its position in Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares in the last quarter. American Century Companies Inc. increased its position in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares in the last quarter. Vanguard Group Inc. increased its position in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Stryker by 258.7% in the 1st quarter. SG Americas Securities LLC now owns 329,020 shares of the medical technology company’s stock valued at $117,746,000 after buying an additional 237,298 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

SYK traded down $1.04 on Tuesday, hitting $366.21. The company’s stock had a trading volume of 384,492 shares, compared to its average volume of 1,247,598. The company’s 50 day simple moving average is $356.63 and its 200-day simple moving average is $343.34. The firm has a market cap of $139.51 billion, a P/E ratio of 41.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. Stryker Co. has a 12 month low of $255.22 and a 12 month high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.54 EPS. Analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. Needham & Company LLC boosted their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Truist Financial lifted their price target on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Buying and Selling at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 in the last three months. Company insiders own 5.90% of the company’s stock.

Stryker 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.