First Republic Investment Management Inc. Has $24.73 Million Stock Position in Stryker Co. (NYSE:SYK)

First Republic Investment Management Inc. grew its stake in Stryker Co. (NYSE:SYKGet Rating) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 122,116 shares of the medical technology company’s stock after purchasing an additional 6,154 shares during the quarter. First Republic Investment Management Inc.’s holdings in Stryker were worth $24,733,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC boosted its stake in shares of Stryker by 3.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 1,533 shares of the medical technology company’s stock valued at $411,000 after purchasing an additional 45 shares in the last quarter. Intelligence Driven Advisers LLC boosted its stake in shares of Stryker by 1.7% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 2,817 shares of the medical technology company’s stock valued at $596,000 after purchasing an additional 47 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its stake in shares of Stryker by 0.9% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 5,285 shares of the medical technology company’s stock valued at $1,070,000 after purchasing an additional 49 shares in the last quarter. Cornerstone Advisory LLC boosted its stake in shares of Stryker by 0.9% during the 3rd quarter. Cornerstone Advisory LLC now owns 5,588 shares of the medical technology company’s stock valued at $1,132,000 after purchasing an additional 50 shares in the last quarter. Finally, Donaldson Capital Management LLC boosted its stake in shares of Stryker by 2.3% during the 2nd quarter. Donaldson Capital Management LLC now owns 2,226 shares of the medical technology company’s stock valued at $443,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group lowered shares of Stryker from a “buy” rating to a “hold” rating and cut their target price for the company from $225.00 to $220.00 in a research note on Tuesday, November 1st. Wells Fargo & Company boosted their price objective on shares of Stryker from $248.00 to $281.00 and gave the stock an “overweight” rating in a research note on Monday, December 12th. Barclays boosted their price objective on shares of Stryker from $257.00 to $265.00 in a research note on Wednesday, January 4th. Morgan Stanley boosted their price objective on shares of Stryker from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Friday, January 6th. Finally, Truist Financial boosted their price objective on shares of Stryker from $230.00 to $252.00 and gave the stock a “hold” rating in a research note on Tuesday, December 20th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $260.68.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 340 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $219.68, for a total transaction of $74,691.20. Following the completion of the sale, the vice president now directly owns 12,774 shares in the company, valued at $2,806,192.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, Director Srikant M. Datar sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $216.71, for a total value of $130,026.00. Following the completion of the transaction, the director now directly owns 5,161 shares in the company, valued at $1,118,440.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 340 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $219.68, for a total transaction of $74,691.20. Following the completion of the transaction, the vice president now owns 12,774 shares of the company’s stock, valued at $2,806,192.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,079 shares of company stock worth $19,354,832. 6.50% of the stock is owned by company insiders.

Stryker Stock Down 0.7 %

SYK opened at $255.75 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 2.04 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average price of $243.85 and a 200-day moving average price of $223.70. Stryker Co. has a twelve month low of $188.84 and a twelve month high of $279.28. The stock has a market capitalization of $96.78 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 2.87 and a beta of 0.94.

Stryker (NYSE:SYKGet Rating) last released its quarterly earnings data on Monday, October 31st. The medical technology company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.12). Stryker had a net margin of 13.69% and a return on equity of 22.27%. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts forecast that Stryker Co. will post 9.17 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.17%. This is a positive change from Stryker’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, December 29th. Stryker’s payout ratio is 46.66%.

Stryker Company Profile

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Stryker Corp. operates as a medical technology company. It operates through the following segments: Orthopaedics & Spine and MedSurg & Neurotechnology. The Orthopaedics & Spine segment provides implants for use in total joint replacements, such as hip, knee, and shoulder, and trauma and extremities surgeries.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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