Segment Wealth Management LLC Buys 77 Shares of Stryker Co. (NYSE:SYK)

Segment Wealth Management LLC grew its stake in Stryker Co. (NYSE:SYK) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,504 shares of the medical technology company’s stock after purchasing an additional 77 shares during the quarter. Stryker comprises about 1.3% of Segment Wealth Management LLC’s holdings, making the stock its 16th biggest holding. Segment Wealth Management LLC’s holdings in Stryker were worth $18,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SYK. West Paces Advisors Inc. increased its stake in shares of Stryker by 13.7% in the 1st quarter. West Paces Advisors Inc. now owns 348 shares of the medical technology company’s stock worth $125,000 after acquiring an additional 42 shares in the last quarter. GoalVest Advisory LLC increased its stake in shares of Stryker by 979.5% in the 1st quarter. GoalVest Advisory LLC now owns 1,263 shares of the medical technology company’s stock worth $452,000 after acquiring an additional 1,146 shares in the last quarter. DGS Capital Management LLC bought a new position in shares of Stryker in the 1st quarter worth about $239,000. S.A. Mason LLC increased its stake in shares of Stryker by 1.7% in the 1st quarter. S.A. Mason LLC now owns 2,955 shares of the medical technology company’s stock worth $1,058,000 after acquiring an additional 50 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in Stryker by 41.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,049 shares of the medical technology company’s stock valued at $375,000 after purchasing an additional 307 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last quarter. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. BTIG Research raised their price objective on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Finally, Needham & Company LLC raised their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Stryker Price Performance

Shares of NYSE:SYK opened at $366.20 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63. The company has a market capitalization of $139.50 billion, a P/E ratio of 41.80, a P/E/G ratio of 2.85 and a beta of 0.91. The firm’s 50 day simple moving average is $357.37 and its two-hundred day simple moving average is $343.45.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the firm earned $2.54 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.