Bridges Investment Management Inc. Increases Holdings in Stryker Corporation $SYK

Bridges Investment Management Inc. lifted its position in shares of Stryker Corporation (NYSE:SYKFree Report) by 30.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,706 shares of the medical technology company’s stock after buying an additional 28,968 shares during the quarter. Bridges Investment Management Inc.’s holdings in Stryker were worth $46,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker during the second quarter worth $26,000. Clayton Financial Group LLC bought a new position in shares of Stryker in the 3rd quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker during the 2nd quarter worth $28,000. Sachetta LLC boosted its position in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Kilter Group LLC purchased a new position in Stryker in the second quarter valued at about $29,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of SYK opened at $369.39 on Monday. The business’s 50-day moving average is $359.40 and its two-hundred day moving average is $371.53. The company has a market capitalization of $141.26 billion, a P/E ratio of 43.97, a P/E/G ratio of 2.37 and a beta of 0.87. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYKGet Free Report) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $4.01 EPS. Research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a dividend of $0.88 per share. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s payout ratio is currently 46.25%.

Analyst Ratings Changes

SYK has been the subject of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. UBS Group set a $408.00 target price on shares of Stryker in a research report on Monday, October 13th. TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a research note on Monday, January 26th. Needham & Company LLC upped their price target on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.95.

View Our Latest Research Report on Stryker

Key Stryker News

Here are the key news stories impacting Stryker this week:

Insider Activity at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction 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 $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the business’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 owned 2,702,108 shares in the company, valued at $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 522,118 shares of company stock valued at $185,381,932. 5.20% of the stock is owned by corporate insiders.

About Stryker

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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