Johnson Investment Counsel Inc. Boosts Stake in Stryker Corporation $SYK

Johnson Investment Counsel Inc. increased its position in Stryker Corporation (NYSE:SYK) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 209,934 shares of the medical technology company’s stock after purchasing an additional 5,448 shares during the period. Johnson Investment Counsel Inc. owned 0.05% of Stryker worth $77,606,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. bought a new position in Stryker during the 2nd quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new position in shares of Stryker during the third quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Stryker in the 2nd quarter worth about $28,000. Kilter Group LLC bought a new position in Stryker in the 2nd quarter worth about $29,000. Finally, Howard Hughes Medical Institute bought a new stake in Stryker during the 2nd quarter valued at about $29,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of Stryker stock opened at $356.02 on Tuesday. The stock’s fifty day moving average is $358.07 and its 200 day moving average is $370.18. Stryker Corporation has a one year low of $329.16 and a one year 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. The stock has a market cap of $136.15 billion, a P/E ratio of 42.38, a P/E/G ratio of 2.10 and a beta of 0.87.

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

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is presently 41.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SYK shares. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a report on Friday, December 19th. The Goldman Sachs Group set a $399.00 price objective on Stryker in a report on Friday, January 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Finally, Robert W. Baird set a $437.00 price target on Stryker in a report on Friday, January 30th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $426.94.

Insider Buying and Selling at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction dated 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 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 legal filing with the SEC, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. This trade represents a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 252,118 shares of company stock valued at $91,504,172 over the last ninety days. 5.20% of the stock is currently owned by company insiders.

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.