Chesley Taft & Associates LLC Has $50.96 Million Stock Holdings in Stryker Corporation $SYK

Chesley Taft & Associates LLC lessened its stake in Stryker Corporation (NYSE:SYK) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,853 shares of the medical technology company’s stock after selling 5,467 shares during the quarter. Stryker makes up about 2.2% of Chesley Taft & Associates LLC’s holdings, making the stock its 9th largest position. Chesley Taft & Associates LLC’s holdings in Stryker were worth $50,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Montecito Bank & Trust bought a new position in Stryker during the 3rd quarter valued at $732,000. Lynch & Associates IN raised its holdings in shares of Stryker by 1.2% in the third quarter. Lynch & Associates IN now owns 18,093 shares of the medical technology company’s stock valued at $6,688,000 after purchasing an additional 219 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Stryker by 4.8% during the third quarter. Assenagon Asset Management S.A. now owns 10,977 shares of the medical technology company’s stock valued at $4,058,000 after purchasing an additional 499 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Stryker by 2.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 7,889 shares of the medical technology company’s stock worth $2,918,000 after purchasing an additional 151 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in Stryker in the 3rd quarter valued at about $838,000. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares in the company, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 522,118 shares of company stock valued at $185,381,932 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Barclays upped their target price on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Truist Financial upped their price objective on Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a research note on Friday, November 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday. Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Finally, Citigroup lowered their price objective on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $431.83.

Stryker Trading Up 0.3%

Shares of SYK opened at $352.63 on Thursday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business has a 50-day moving average of $365.79 and a 200 day moving average of $377.86. The firm has a market cap of $134.85 billion, a P/E ratio of 46.34, a price-to-earnings-growth ratio of 2.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.88 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is presently 44.15%.

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.