W.G. Shaheen & Associates DBA Whitney & Co Has $9.64 Million Position in Stryker Corporation $SYK

W.G. Shaheen & Associates DBA Whitney & Co cut its position in shares of Stryker Corporation (NYSE:SYK) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,086 shares of the medical technology company’s stock after selling 4,081 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Stryker were worth $9,643,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SYK. NEOS Investment Management LLC increased its position in shares of Stryker by 38.5% during the third quarter. NEOS Investment Management LLC now owns 42,290 shares of the medical technology company’s stock valued at $15,633,000 after purchasing an additional 11,760 shares during the period. Vanguard Group Inc. boosted its stake in Stryker by 0.8% during the third quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after buying an additional 272,828 shares in the last quarter. Texas Yale Capital Corp. boosted its stake in Stryker by 0.8% during the third quarter. Texas Yale Capital Corp. now owns 9,083 shares of the medical technology company’s stock worth $3,358,000 after buying an additional 70 shares in the last quarter. Phillips Wealth Planners LLC increased its holdings in Stryker by 10.1% in the 3rd quarter. Phillips Wealth Planners LLC now owns 788 shares of the medical technology company’s stock valued at $289,000 after buying an additional 72 shares during the period. Finally, Pallas Capital Advisors LLC raised its stake in shares of Stryker by 0.4% in the 3rd quarter. Pallas Capital Advisors LLC now owns 19,054 shares of the medical technology company’s stock valued at $7,044,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a research note on Tuesday, January 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a research note on Friday, November 14th. Truist Financial dropped their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Sanford C. Bernstein boosted their price target on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $426.94.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.20% of the company’s stock.

Stryker Stock Up 0.0%

NYSE SYK opened at $366.02 on Tuesday. The stock’s 50 day simple moving average is $358.26 and its 200 day simple moving average is $368.94. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The firm has a market cap of $140.07 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the firm earned $4.01 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio is currently 41.90%.

About Stryker

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.