Nicholson Wealth Management Group LLC Purchases New Stake in Stryker Co. (NYSE:SYK)

Nicholson Wealth Management Group LLC bought a new stake in shares of Stryker Co. (NYSE:SYK) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,750 shares of the medical technology company’s stock, valued at approximately $993,000.

Other institutional investors also recently modified their holdings of the company. Centennial Bank AR raised its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker in the first quarter valued at about $39,000. HBW Advisory Services LLC bought a new position in Stryker during the third quarter worth about $42,000. Grove Bank & Trust grew 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 buying an additional 56 shares during the period. Finally, DT Investment Partners LLC raised its position in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of 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. In the last ninety days, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SYK has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Truist Financial lifted their target price on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday, October 14th. BTIG Research increased their price target on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Finally, Stifel Nicolaus lowered their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $381.16.

Stryker Price Performance

NYSE:SYK opened at $359.90 on Friday. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. The company has a market cap of $137.10 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.83 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 stock’s 50-day simple moving average is $357.99 and its 200 day simple moving average is $343.59.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business posted $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio is presently 36.53%.

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.