Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $426.91 Million Stock Position in Stryker Co. (NYSE:SYK)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its stake in Stryker Co. (NYSE:SYK) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,186,188 shares of the medical technology company’s stock after selling 15,529 shares during the period. Stryker accounts for 3.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 7th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Stryker were worth $426,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC purchased a new position in shares of Stryker during the first quarter worth $308,000. Monument Capital Management acquired a new stake in shares of Stryker in the first quarter valued at $234,000. Norden Group LLC acquired a new stake in shares of Stryker in the first quarter valued at $4,027,000. Kovack Advisors Inc. acquired a new stake in shares of Stryker in the first quarter valued at $224,000. Finally, First Trust Direct Indexing L.P. increased its position in shares of Stryker by 6.5% during the first quarter. First Trust Direct Indexing L.P. now owns 11,402 shares of the medical technology company’s stock worth $4,080,000 after purchasing an additional 693 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK traded up $4.88 on Wednesday, hitting $363.89. 339,519 shares of the company were exchanged, compared to its average volume of 1,246,503. The company’s 50 day moving average price is $359.43 and its two-hundred day moving average price is $343.84. Stryker Co. has a one year low of $264.85 and a one year high of $374.63. 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 firm has a market capitalization of $138.62 billion, a price-to-earnings ratio of 41.76, a PEG ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s payout ratio is 36.53%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Evercore ISI raised their price target on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC upped their target price on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird upped their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $383.42.

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.