Florida Trust Wealth Management Co Purchases 2,599 Shares of Stryker Corporation $SYK

Florida Trust Wealth Management Co raised its holdings in shares of Stryker Corporation (NYSE:SYK) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,584 shares of the medical technology company’s stock after acquiring an additional 2,599 shares during the quarter. Florida Trust Wealth Management Co’s holdings in Stryker were worth $20,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Mid American Wealth Advisory Group Inc. bought a new position in Stryker in the second quarter valued at $26,000. Clayton Financial Group LLC acquired a new position in shares of Stryker during the 3rd quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Stryker in the 2nd quarter valued at about $28,000. Sachetta LLC grew its holdings in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares in the last quarter. Finally, Kilter Group LLC acquired a new stake in shares of Stryker in the second quarter valued at about $29,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock worth $185,381,932 in the last ninety days. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYK. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a research report on Friday, December 19th. Wells Fargo & Company increased their price objective on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Evercore ISI set a $390.00 target price on shares of Stryker in a report on Monday, January 5th. Truist Financial cut their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Finally, Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a research note on Tuesday, January 6th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $430.00.

Stryker Stock Performance

NYSE SYK opened at $364.45 on Monday. The stock has a market cap of $139.37 billion, a PE ratio of 47.89, a P/E/G ratio of 2.33 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. The firm has a 50-day moving average of $360.20 and a 200-day moving average of $373.79. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

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

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors 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 yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.84. Stryker’s payout ratio is 46.25%.

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.