Davis Rea LTD. Has $12.17 Million Stock Position in Stryker Co. (NYSE:SYK)

Davis Rea LTD. increased its stake in shares of Stryker Co. (NYSE:SYK) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,624 shares of the medical technology company’s stock after acquiring an additional 226 shares during the quarter. Stryker comprises about 5.3% of Davis Rea LTD.’s portfolio, making the stock its 8th largest holding. Davis Rea LTD.’s holdings in Stryker were worth $12,174,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Centennial Bank AR lifted its holdings in shares of Stryker by 106.7% in 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 purchased a new stake in shares of Stryker in the first quarter valued at $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker in the 3rd quarter worth about $42,000. Grove Bank & Trust boosted its stake 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 during the period. Finally, DT Investment Partners LLC raised its position in Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 72 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated 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 owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $363.43 on Thursday. 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 capitalization of $138.45 billion, a PE ratio of 41.49, a P/E/G ratio of 2.73 and a beta of 0.91. The business has a 50-day moving average of $359.79 and a two-hundred day moving average of $343.98. Stryker Co. has a 12 month low of $264.85 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.46 EPS. As a group, research analysts forecast that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 0.88%. Stryker’s dividend payout ratio is presently 36.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SYK shares. Wells Fargo & Company upped their target price on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays raised their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $392.60.

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.