Crestwood Advisors Group LLC Decreases Stake in Stryker Corporation $SYK

Crestwood Advisors Group LLC trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 10.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,366 shares of the medical technology company’s stock after selling 5,364 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Stryker were worth $17,140,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Stryker by 6.1% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,852 shares of the medical technology company’s stock worth $1,544,000 after purchasing an additional 220 shares during the period. Cidel Asset Management Inc. boosted its position in shares of Stryker by 12.7% in the second quarter. Cidel Asset Management Inc. now owns 1,898 shares of the medical technology company’s stock valued at $751,000 after acquiring an additional 214 shares during the period. Lyell Wealth Management LP increased its holdings in shares of Stryker by 2.3% in the second quarter. Lyell Wealth Management LP now owns 38,010 shares of the medical technology company’s stock worth $15,038,000 after purchasing an additional 869 shares during the period. Finally, WBH Advisory Inc. bought a new position in Stryker in the 2nd quarter worth about $212,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYK. Truist Financial dropped their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a report on Friday, December 19th. Barclays reissued an “overweight” rating and set a $469.00 price objective on shares of Stryker in a research report on Monday, February 2nd. Citigroup restated a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.94.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is currently owned by insiders.

Stryker Stock Up 0.0%

Stryker stock opened at $366.02 on Tuesday. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The stock has a fifty day moving average of $358.26 and a 200 day moving average of $368.94. 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 $140.07 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87.

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

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

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.