Coldstream Capital Management Inc. Has $2.67 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Coldstream Capital Management Inc. raised its position in Stryker Co. (NYSE:SYK) by 24.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,348 shares of the medical technology company’s stock after purchasing an additional 1,458 shares during the period. Coldstream Capital Management Inc.’s holdings in Stryker were worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares in the last quarter. Brophy Wealth Management LLC acquired a new position in Stryker in the 3rd quarter valued at $1,027,000. Vestcor Inc lifted its position in shares of Stryker by 24.0% during the 3rd quarter. Vestcor Inc now owns 10,335 shares of the medical technology company’s stock valued at $3,734,000 after acquiring an additional 2,000 shares during the period. High Falls Advisors Inc bought a new stake in shares of Stryker during the 3rd quarter valued at $209,000. Finally, Resources Management Corp CT ADV lifted its position in shares of Stryker by 3.9% during the 3rd quarter. Resources Management Corp CT ADV now owns 16,661 shares of the medical technology company’s stock valued at $6,019,000 after acquiring an additional 633 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,781 shares of company stock valued at $24,612,275. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their target price on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $398.40.

Stryker Price Performance

Stryker stock opened at $382.87 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $145.96 billion, a PE ratio of 41.04, a P/E/G ratio of 2.90 and a beta of 0.94. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The stock has a 50-day moving average price of $371.49 and a two-hundred day moving average price of $354.02.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is presently 34.30%.

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.