Welch & Forbes LLC Has $157.01 Million Position in Stryker Co. (NYSE:SYK)

Welch & Forbes LLC raised its position in Stryker Co. (NYSE:SYK) by 0.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 524,321 shares of the medical technology company’s stock after buying an additional 122 shares during the quarter. Stryker comprises about 2.4% of Welch & Forbes LLC’s holdings, making the stock its 7th largest position. Welch & Forbes LLC owned about 0.14% of Stryker worth $157,013,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC raised its holdings in Stryker by 70.3% during the 4th quarter. Apollon Wealth Management LLC now owns 9,964 shares of the medical technology company’s stock valued at $2,984,000 after acquiring an additional 4,114 shares during the period. Machina Capital S.A.S. bought a new stake in shares of Stryker during the 4th quarter valued at $338,000. Maryland State Retirement & Pension System lifted its holdings in Stryker by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 27,656 shares of the medical technology company’s stock worth $8,282,000 after purchasing an additional 294 shares in the last quarter. Private Advisor Group LLC boosted its stake in Stryker by 9.1% in the 4th quarter. Private Advisor Group LLC now owns 14,658 shares of the medical technology company’s stock worth $4,390,000 after purchasing an additional 1,224 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new position in Stryker during the 4th quarter valued at about $222,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYK. Truist Financial raised their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Evercore ISI increased their price objective on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada lifted their price objective on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. UBS Group upped their target price on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Citigroup lifted their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Trading Down 0.9 %

Shares of SYK traded down $2.95 during trading hours on Monday, hitting $325.50. The company had a trading volume of 1,717,320 shares, compared to its average volume of 1,332,753. The firm has a market cap of $124.00 billion, a P/E ratio of 37.16, a P/E/G ratio of 2.56 and a beta of 0.91. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock’s 50 day moving average price is $346.45 and its 200 day moving average price is $318.37. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, research analysts predict that Stryker Co. will post 11.94 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.50% of the stock is owned by insiders.

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.