Cresset Asset Management LLC Has $6.36 Million Stock Position in Stryker Corporation $SYK

Cresset Asset Management LLC lowered its position in shares of Stryker Corporation (NYSE:SYK) by 13.1% during the third quarter, Holdings Channel reports. The fund owned 17,157 shares of the medical technology company’s stock after selling 2,587 shares during the quarter. Cresset Asset Management LLC’s holdings in Stryker were worth $6,357,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SYK. Armstrong Advisory Group Inc. raised its stake in Stryker by 12.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after purchasing an additional 27 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock worth $704,000 after buying an additional 27 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Stryker by 3.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after buying an additional 28 shares in the last quarter. Wolff Wiese Magana LLC raised its position in Stryker by 2.3% during the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock valued at $470,000 after buying an additional 28 shares during the period. Finally, Enterprise Financial Services Corp lifted its stake in Stryker by 4.3% in the 2nd quarter. Enterprise Financial Services Corp now owns 705 shares of the medical technology company’s stock worth $279,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SYK shares. Barclays reiterated an “overweight” rating and issued a $469.00 target price on shares of Stryker in a report on Monday, February 2nd. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Wells Fargo & Company increased their target price on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. UBS Group boosted their price target on shares of Stryker from $386.00 to $400.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Finally, BTIG Research increased their price objective on Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $428.61.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Stryker Stock Down 3.1%

SYK stock opened at $370.07 on Friday. The firm has a market cap of $141.62 billion, a PE ratio of 44.06, a PEG ratio of 2.23 and a beta of 0.85. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The company has a fifty day simple moving average of $365.25 and a 200 day simple moving average of $369.27. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $4.01 earnings per share. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio is presently 41.90%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.