Stryker Co. (NYSE:SYK) is Davis Rea LTD.’s 8th Largest Position

Davis Rea LTD. raised its stake in shares of Stryker Co. (NYSE:SYK) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,624 shares of the medical technology company’s stock after buying an additional 226 shares during the period. Stryker comprises about 5.3% of Davis Rea LTD.’s investment portfolio, making the stock its 8th biggest holding. Davis Rea LTD.’s holdings in Stryker were worth $12,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SYK. 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 worth $11,258,373,000 after purchasing an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Stryker by 10.4% during 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 purchasing an additional 813,311 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares in the last quarter. TD Asset Management Inc increased its position in Stryker by 2.9% during the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock worth $573,086,000 after buying an additional 44,765 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after buying an additional 46,375 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stryker

In related 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 transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s 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 transaction, the chief financial officer now directly 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 have sold 220,068 shares of company stock worth $71,811,372 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYK. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday. Stifel Nicolaus cut their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $392.60.

Stryker Stock Performance

Shares of NYSE:SYK opened at $363.43 on Thursday. The business has a fifty day moving average of $359.79 and a 200-day moving average of $343.98. The firm has a market cap of $138.45 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a twelve month low of $264.85 and a twelve month high of $374.63.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. On average, equities research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is currently 36.53%.

Stryker Company 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.