Cary Street Partners Asset Management LLC Sells 73 Shares of Stryker Co. (NYSE:SYK)

Cary Street Partners Asset Management LLC lowered its position in Stryker Co. (NYSE:SYK) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,249 shares of the medical technology company’s stock after selling 73 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Stryker were worth $1,871,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SYK. Vanguard Group Inc. lifted its stake in Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after buying an additional 143,631 shares during the period. FMR LLC grew its holdings in Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after purchasing an additional 144,208 shares during the period. Morgan Stanley increased its stake in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Stryker by 3.9% during the third quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock valued at $957,974,000 after purchasing an additional 131,590 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Stryker by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,740,456 shares of the medical technology company’s stock worth $475,614,000 after purchasing an additional 40,736 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYK. Truist Financial boosted their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Royal Bank of Canada upped their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research report on Wednesday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Stryker in a report on Wednesday. Finally, Piper Sandler boosted their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.05.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

NYSE:SYK opened at $328.14 on Thursday. The stock has a market cap of $124.85 billion, a P/E ratio of 37.46, a PEG ratio of 2.71 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $348.05 and its two-hundred day moving average price is $316.78. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41.

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

Stryker Dividend Announcement

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

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.