Chesley Taft & Associates LLC Boosts Stock Position in Stryker Co. (NYSE:SYK)

Chesley Taft & Associates LLC boosted its position in shares of Stryker Co. (NYSE:SYK) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,627 shares of the medical technology company’s stock after buying an additional 983 shares during the quarter. Stryker accounts for approximately 2.6% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 7th largest position. Chesley Taft & Associates LLC’s holdings in Stryker were worth $51,251,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC bought a new stake in shares of Stryker during the 4th quarter worth $25,000. Rogco LP purchased a new position in Stryker in the 4th quarter worth about $30,000. Central Pacific Bank Trust Division acquired a new stake in Stryker during the 1st quarter worth about $39,000. DSM Capital Partners LLC purchased a new stake in Stryker during the fourth quarter valued at about $34,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Stryker in the fourth quarter worth about $40,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Stryker Stock Up 1.1 %

Shares of NYSE SYK traded up $3.72 during mid-day trading on Friday, reaching $337.89. 838,749 shares of the company traded hands, compared to its average volume of 1,319,095. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The company’s fifty day moving average is $335.82 and its two-hundred day moving average is $340.80. The stock has a market cap of $128.76 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $2.54 EPS. On average, analysts expect that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Wall Street Analyst Weigh In

SYK has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Roth Mkm increased their target price on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Truist Financial reduced their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Finally, BTIG Research lowered their target price on Stryker from $372.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $373.11.

About Stryker

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.