Perigon Wealth Management LLC Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

Perigon Wealth Management LLC raised its holdings in Stryker Co. (NYSE:SYK – Get Rating) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,069 shares of the medical technology company’s stock after purchasing an additional 197 shares during the period. Perigon Wealth Management LLC’s holdings in Stryker were worth $419,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. purchased a new position in shares of Stryker in the third quarter worth about $41,000. Old North State Trust LLC bought a new position in shares of Stryker in the third quarter valued at approximately $46,000. Hallmark Capital Management Inc. bought a new position in shares of Stryker in the third quarter valued at approximately $48,000. Webster Bank N. A. boosted its position in shares of Stryker by 123.2% in the third quarter. Webster Bank N. A. now owns 250 shares of the medical technology company’s stock valued at $51,000 after acquiring an additional 138 shares during the period. Finally, Western Pacific Wealth Management LP boosted its position in shares of Stryker by 3,862.5% in the third quarter. Western Pacific Wealth Management LP now owns 317 shares of the medical technology company’s stock valued at $64,000 after acquiring an additional 309 shares during the period. Hedge funds and other institutional investors own 77.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYK. Evercore ISI raised their price objective on shares of Stryker to $265.00 in a research report on Tuesday, January 3rd. Citigroup boosted their price target on shares of Stryker from $282.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. KeyCorp assumed coverage on shares of Stryker in a research note on Wednesday, January 25th. They issued a “sector weight” rating for the company. BTIG Research boosted their price target on shares of Stryker from $268.00 to $281.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Finally, Morgan Stanley boosted their price target on shares of Stryker from $260.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $270.79.

Stryker Price Performance

SYK stock opened at $274.44 on Friday. Stryker Co. has a 1 year low of $188.84 and a 1 year high of $284.00. The company has a market cap of $103.97 billion, a P/E ratio of 44.48, a PEG ratio of 2.80 and a beta of 0.93. The firm has a 50-day moving average of $263.78 and a 200 day moving average of $238.30. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.63 and a quick ratio of 1.00.

Stryker (NYSE:SYK – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.16. Stryker had a net margin of 12.78% and a return on equity of 22.39%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. Stryker’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that Stryker Co. will post 10.02 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, March 30th. Stryker’s payout ratio is currently 48.62%.

Insider Buying and Selling

In other Stryker news, Director Allan C. Golston sold 5,459 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $263.27, for a total transaction of $1,437,190.93. Following the completion of the transaction, the director now owns 13,537 shares of the company’s stock, valued at $3,563,885.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, Director Allan C. Golston sold 5,459 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $263.27, for a total transaction of $1,437,190.93. Following the completion of the transaction, the director now owns 13,537 shares of the company’s stock, valued at $3,563,885.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 2,161 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $264.31, for a total transaction of $571,173.91. Following the transaction, the insider now directly owns 10,611 shares of the company’s stock, valued at approximately $2,804,593.41. The disclosure for this sale can be found here. Insiders sold a total of 357,410 shares of company stock valued at $97,831,003 over the last three months. Corporate insiders own 6.70% of the company’s stock.

Stryker Profile

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Stryker Corp. is a medical technology company, which engages in the provision of innovative products and services that help improve patient and healthcare outcomes. It operates under the MedSurg and Neurotechnology, and Orthopaedics and Spine segments. The MedSurg and Neurotechnology segment includes surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment, intensive care disposable products, clinical communication, workflow solutions, products for the treatment of acute ischemic and hemorrhagic stroke, traditional brain, and open skull based surgical procedures, orthobiologic, and biosurgery.