Stryker Co. (NYSE:SYK) is Welch & Forbes LLC’s 5th Largest Position

Welch & Forbes LLC reduced its position in shares of Stryker Co. (NYSE:SYK) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 524,924 shares of the medical technology company’s stock after selling 1,853 shares during the period. Stryker makes up approximately 2.5% of Welch & Forbes LLC’s portfolio, making the stock its 5th largest position. Welch & Forbes LLC’s holdings in Stryker were worth $110,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp grew its position in Stryker by 1.7% during the third quarter. State Street Corp now owns 13,462,431 shares of the medical technology company’s stock worth $2,918,870,000 after buying an additional 229,189 shares during the period. Nuveen Asset Management LLC grew its position in shares of Stryker by 20,218.6% in the second quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock valued at $533,708,000 after purchasing an additional 2,583,333 shares during the last quarter. Morgan Stanley grew its position in shares of Stryker by 3.4% in the second quarter. Morgan Stanley now owns 1,826,762 shares of the medical technology company’s stock valued at $375,547,000 after purchasing an additional 59,305 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Stryker by 15.4% in the third quarter. California Public Employees Retirement System now owns 1,346,967 shares of the medical technology company’s stock valued at $291,349,000 after purchasing an additional 180,043 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Stryker by 1.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,314,458 shares of the medical technology company’s stock valued at $284,317,000 after purchasing an additional 19,724 shares during the last quarter. Institutional investors own 73.16% of the company’s stock.

Shares of SYK traded up $5.53 on Friday, hitting $214.99. 821,007 shares of the stock traded hands, compared to its average volume of 1,277,633. The company has a quick ratio of 1.35, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $77.80 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.32 and a beta of 0.76. The stock’s 50 day moving average is $207.08 and its two-hundred day moving average is $211.05. Stryker Co. has a 1 year low of $160.79 and a 1 year high of $223.45.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.01. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.58 billion. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.69 earnings per share. Research analysts forecast that Stryker Co. will post 8.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.575 per share. This is an increase from Stryker’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 30th. This represents a $2.30 annualized dividend and a dividend yield of 1.07%. Stryker’s dividend payout ratio is presently 31.46%.

Several research firms have recently commented on SYK. ValuEngine lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Piper Sandler lowered shares of Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research report on Tuesday, January 7th. Robert W. Baird increased their price target on shares of Stryker from $239.00 to $242.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lowered shares of Stryker from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $226.00 to $207.00 in a research report on Tuesday, November 5th. Finally, Evercore ISI upgraded shares of Stryker from an “in-line” rating to an “outperform” rating in a research report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $222.16.

In other Stryker news, CEO Kevin Lobo sold 19,286 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $215.71, for a total transaction of $4,160,183.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $215.85, for a total transaction of $582,795.00. Following the transaction, the chief financial officer now directly owns 17,933 shares in the company, valued at approximately $3,870,838.05. The disclosure for this sale can be found here. Insiders have sold 26,652 shares of company stock worth $5,705,481 in the last three months. Insiders own 7.20% of the company’s stock.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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