Crestwood Advisors Group LLC Trims Stake in Stryker Co. (NYSE:SYK)

Crestwood Advisors Group LLC lessened its position in Stryker Co. (NYSE:SYK) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 100,528 shares of the medical technology company’s stock after selling 3,690 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Stryker were worth $36,317,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Centennial Bank AR grew its stake 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 worth $32,000 after buying 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 worth $39,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the third quarter valued at $42,000. Grove Bank & Trust raised its position in shares of Stryker by 84.8% in 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 last quarter. Finally, DT Investment Partners LLC boosted its stake 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 in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SYK shares. Truist Financial lifted their target price on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the 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 completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,068 shares of company stock valued at $3,693,972. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

SYK stock traded down $2.29 during trading on Tuesday, reaching $364.61. The company’s stock had a trading volume of 163,279 shares, compared to its average volume of 1,250,847. The company’s fifty day moving average is $360.43 and its 200-day moving average is $344.64. Stryker Co. has a 1 year low of $266.93 and a 1 year high of $374.63. The company has a market capitalization of $139.00 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the business posted $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.80 per share. The ex-dividend date was 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 34.30%.

Stryker 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.