Segment Wealth Management LLC Acquires 77 Shares of Stryker Co. (NYSE:SYK)

Segment Wealth Management LLC increased its holdings in Stryker Co. (NYSE:SYK) by 0.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 51,504 shares of the medical technology company’s stock after buying an additional 77 shares during the period. Stryker accounts for approximately 1.3% of Segment Wealth Management LLC’s portfolio, making the stock its 16th largest position. Segment Wealth Management LLC’s holdings in Stryker were worth $18,606,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares during the period. JPMorgan Chase & Co. boosted its stake in Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after buying an additional 813,311 shares during the period. Clearbridge Investments LLC boosted its stake in Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares during the period. TD Asset Management Inc boosted its stake 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 period. Finally, The Manufacturers Life Insurance Company boosted its stake 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 worth $411,624,000 after buying an additional 46,375 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now 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 a total of 220,068 shares of company stock worth $71,811,372 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of Stryker stock opened at $366.20 on Wednesday. The company has a market capitalization of $139.50 billion, a PE ratio of 41.80, a P/E/G ratio of 2.85 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. The company has a 50-day simple moving average of $357.37 and a two-hundred day simple moving average of $343.45. Stryker Co. has a one year low of $255.22 and a one year high of $374.63.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.54 earnings per share. Research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial lifted their price objective on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Piper Sandler reissued an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Needham & Company LLC boosted their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. UBS Group boosted their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Barclays boosted their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $381.16.

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.