Sterling Investment Counsel LLC Has $761,000 Stock Position in Stryker Co. (NYSE:SYK)

Sterling Investment Counsel LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,107 shares of the medical technology company’s stock after buying an additional 307 shares during the period. Sterling Investment Counsel LLC’s holdings in Stryker were worth $761,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SYK. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Stryker in the first quarter worth $39,000. HBW Advisory Services LLC bought a new stake in Stryker during the third quarter valued at $42,000. Grove Bank & Trust boosted its position in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. Finally, Sachetta LLC boosted its position in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE:SYK traded down $3.80 during mid-day trading on Wednesday, reaching $362.22. 230,744 shares of the company traded hands, compared to its average volume of 1,245,120. The company’s 50 day moving average price is $357.37 and its 200-day moving average price is $343.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a market cap of $137.99 billion, a PE ratio of 41.80, a PEG ratio of 2.85 and a beta of 0.91. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63.

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

Stryker Dividend Announcement

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

Insider Buying and Selling

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was 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 of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SYK. Needham & Company LLC increased their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Wolfe Research began coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Morgan Stanley increased their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Barclays increased their price objective 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 investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.