Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Stock Holdings in Stryker Co. (NYSE:SYK)

by · The Markets Daily

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in Stryker Co. (NYSE:SYK – Free Report) by 1.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,186,188 shares of the medical technology company’s stock after selling 15,529 shares during the period. Stryker comprises 3.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 7th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.31% of Stryker worth $426,910,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares in the last quarter. American Century Companies Inc. grew its holdings in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SYK shares. Truist Financial upped their price objective on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report 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 report on Wednesday, July 31st. UBS Group upped their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Finally, Robert W. Baird increased their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $383.42.

Read Our Latest Research Report on Stryker

Stryker Price Performance

SYK traded up $4.88 during midday trading on Wednesday, hitting $363.89. The stock had a trading volume of 339,519 shares, compared to its average volume of 1,246,503. The company has a market cap of $138.62 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The business has a fifty day moving average of $359.43 and a 200 day moving average of $343.84. Stryker Co. has a 1 year low of $264.85 and a 1 year high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. Insiders own 5.90% of the company’s stock.

Stryker Profile

(Free Report)

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.

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