Stillwater Wealth Management Group Invests $2.96 Million in Stryker Corporation $SYK

Stillwater Wealth Management Group bought a new stake in Stryker Corporation (NYSE:SYK) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,007 shares of the medical technology company’s stock, valued at approximately $2,960,000. Stryker accounts for 2.1% of Stillwater Wealth Management Group’s portfolio, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Stryker by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after purchasing an additional 272,828 shares in the last quarter. State Street Corp grew its position in shares of Stryker by 1.0% during the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after purchasing an additional 150,204 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Stryker by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock worth $2,342,987,000 after purchasing an additional 741,542 shares in the last quarter. Norges Bank bought a new position in shares of Stryker during the second quarter worth approximately $1,882,173,000. Finally, Legal & General Group Plc increased its holdings in shares of Stryker by 4.4% during the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock worth $851,457,000 after purchasing an additional 96,662 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYK. Truist Financial dropped their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Needham & Company LLC raised their price objective on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Evercore set a $390.00 price objective on Stryker in a report on Monday, January 5th. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Finally, Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a research report on Friday, December 19th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $427.50.

Stryker Stock Performance

NYSE SYK opened at $345.64 on Thursday. The firm’s 50 day simple moving average is $364.43 and its 200 day simple moving average is $366.61. The firm has a market capitalization of $132.27 billion, a price-to-earnings ratio of 41.15, a P/E/G ratio of 2.04 and a beta of 0.85. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 1 year low of $328.23 and a 1 year high of $404.87.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.01 earnings per share. As a group, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is currently 41.90%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by corporate insiders.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.