Ferguson Wellman Capital Management Inc. Sells 13,665 Shares of Stryker Co. (NYSE:SYK)

Ferguson Wellman Capital Management Inc. lessened its position in shares of Stryker Co. (NYSE:SYK) by 7.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,876 shares of the medical technology company’s stock after selling 13,665 shares during the period. Stryker accounts for 1.2% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 24th biggest holding. Ferguson Wellman Capital Management Inc.’s holdings in Stryker were worth $57,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Centennial Bank AR boosted 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 purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Stryker in the 1st quarter valued at $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker in the 3rd quarter valued at $42,000. Grove Bank & Trust increased its stake 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 valued at $44,000 after acquiring an additional 56 shares in the last quarter. Finally, Sachetta LLC increased its stake in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. 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 set a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Truist Financial boosted their price objective on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report on Monday, October 14th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, Barclays raised 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 equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $381.16.

Stryker Stock Performance

SYK traded up $9.83 during midday trading on Friday, reaching $369.56. The company had a trading volume of 1,589,555 shares, compared to its average volume of 1,253,560. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. The business has a 50-day moving average price of $355.79 and a two-hundred day moving average price of $343.31. The stock has a market cap of $140.78 billion, a PE ratio of 42.19, a P/E/G ratio of 2.78 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.

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

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated 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 approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. 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 over the last three months. 5.90% of the stock is currently owned by insiders.

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.