Ferguson Wellman Capital Management Inc. Has $66.56 Million Position in Stryker Corporation $SYK

Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Stryker Corporation (NYSE:SYK) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,039 shares of the medical technology company’s stock after acquiring an additional 1,374 shares during the quarter. Stryker makes up approximately 1.1% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 28th largest holding. Ferguson Wellman Capital Management Inc.’s holdings in Stryker were worth $66,555,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Stryker in the 2nd quarter valued at $1,882,173,000. Alliancebernstein L.P. raised its holdings in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after buying an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. acquired a new stake in shares of Stryker in the second quarter worth about $191,047,000. Finally, Vanguard Group Inc. boosted its stake in shares of Stryker by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after acquiring an additional 440,607 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the company’s 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. This represents a 40.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $367.13 on Friday. The company’s fifty day moving average is $359.67 and its two-hundred day moving average is $375.24. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The firm has a market capitalization of $140.40 billion, a price-to-earnings ratio of 48.24, a P/E/G ratio of 2.36 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the prior year, the business earned $2.87 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued 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 of this dividend is Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s payout ratio is 46.25%.

Analysts Set New Price Targets

Several research firms recently weighed in on SYK. BTIG Research restated a “buy” rating and issued a $410.00 target price on shares of Stryker in a report on Friday, November 14th. Redburn Partners set a $420.00 price objective on shares of Stryker in a research note on Thursday, September 18th. Truist Financial lowered their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.40.

Stryker Company Profile

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.