Vestmark Advisory Solutions Inc. Lowers Holdings in Stryker Co. (NYSE:SYK)

Posted by on Apr 1st, 2023

Vestmark Advisory Solutions Inc. trimmed its holdings in Stryker Co. (NYSE:SYK – Get Rating) by 51.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,626 shares of the medical technology company’s stock after selling 7,987 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Stryker were worth $1,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Kearns & Associates LLC bought a new stake in shares of Stryker in the fourth quarter worth about $235,000. Hixon Zuercher LLC increased its holdings in shares of Stryker by 0.6% in the fourth quarter. Hixon Zuercher LLC now owns 19,013 shares of the medical technology company’s stock worth $4,648,000 after purchasing an additional 110 shares during the last quarter. Redwood Investments LLC increased its holdings in shares of Stryker by 1.0% in the fourth quarter. Redwood Investments LLC now owns 9,837 shares of the medical technology company’s stock worth $2,405,000 after purchasing an additional 94 shares during the last quarter. Chicago Capital LLC increased its holdings in shares of Stryker by 92.1% in the fourth quarter. Chicago Capital LLC now owns 158,592 shares of the medical technology company’s stock worth $38,774,000 after purchasing an additional 76,043 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Stryker by 13.7% during the fourth quarter. HB Wealth Management LLC now owns 5,370 shares of the medical technology company’s stock worth $1,313,000 after acquiring an additional 649 shares during the last quarter. 77.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on SYK shares. Canaccord Genuity Group reissued a “hold” rating and set a $250.00 price objective on shares of Stryker in a research note on Tuesday. Royal Bank of Canada boosted their target price on Stryker from $284.00 to $288.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Morgan Stanley upped their target price on Stryker from $260.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. Truist Financial upped their target price on Stryker from $257.00 to $275.00 and gave the stock a “hold” rating in a report on Wednesday, February 1st. Finally, Robert W. Baird upped their target price on Stryker from $240.00 to $287.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $274.10.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 5,459 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $263.27, for a total value of $1,437,190.93. Following the completion of the transaction, the director now owns 13,537 shares of the company’s stock, valued at approximately $3,563,885.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, CAO William E. Berry, Jr. sold 4,058 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $279.79, for a total value of $1,135,387.82. Following the completion of the transaction, the chief accounting officer now owns 2,886 shares of the company’s stock, valued at approximately $807,473.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan C. Golston sold 5,459 shares of Stryker stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $263.27, for a total transaction of $1,437,190.93. Following the sale, the director now directly owns 13,537 shares of the company’s stock, valued at $3,563,885.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 357,410 shares of company stock worth $97,831,003. Insiders own 6.70% of the company’s stock.

Stryker Stock Up 1.7 %

SYK stock opened at $285.47 on Friday. The firm has a 50-day moving average of $267.81 and a two-hundred day moving average of $242.87. The company has a market cap of $108.23 billion, a price-to-earnings ratio of 46.27, a PEG ratio of 2.86 and a beta of 0.93. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Stryker Co. has a 12 month low of $188.84 and a 12 month high of $285.68.

Stryker (NYSE:SYK – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.16. Stryker had a net margin of 12.78% and a return on equity of 22.39%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the firm earned $2.71 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, analysts forecast that Stryker Co. will post 10.02 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $3.00 annualized dividend and a yield of 1.05%. Stryker’s dividend payout ratio (DPR) is presently 48.62%.

Stryker Profile

(Get Rating)

Stryker Corp. is a medical technology company, which engages in the provision of innovative products and services that help improve patient and healthcare outcomes. It operates under the MedSurg and Neurotechnology, and Orthopaedics and Spine segments. The MedSurg and Neurotechnology segment includes surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment, intensive care disposable products, clinical communication, workflow solutions, products for the treatment of acute ischemic and hemorrhagic stroke, traditional brain, and open skull based surgical procedures, orthobiologic, and biosurgery.

Featured Stories

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.