Greenwood Capital Associates LLC Has $8.30 Million Position in Stryker Co. (NYSE:SYK)

Greenwood Capital Associates LLC grew its holdings in Stryker Co. (NYSE:SYK) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,964 shares of the medical technology company’s stock after purchasing an additional 519 shares during the quarter. Stryker comprises about 1.1% of Greenwood Capital Associates LLC’s portfolio, making the stock its 24th biggest position. Greenwood Capital Associates LLC’s holdings in Stryker were worth $8,296,000 at the end of the most recent quarter.

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

Stryker Stock Performance

NYSE:SYK opened at $366.90 on Tuesday. The business’s fifty day moving average is $360.43 and its 200 day moving average is $344.64. The firm has a market cap of $139.87 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 52-week low of $266.93 and a 52-week high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’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 posted $2.46 earnings per share. Research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s payout ratio is currently 34.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group increased their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were 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 in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,068 shares of company stock worth $3,693,972. Corporate insiders own 5.50% of the company’s stock.

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.