Violich Capital Management Inc. Acquires New Stake in Stryker Corporation $SYK

Violich Capital Management Inc. bought a new position in Stryker Corporation (NYSE:SYK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,275 shares of the medical technology company’s stock, valued at approximately $1,950,000.

A number of other large investors have also made changes to their positions in SYK. Consolidated Portfolio Review Corp grew its position in Stryker by 4.2% during the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock valued at $256,000 after buying an additional 26 shares during the period. Princeton Global Asset Management LLC raised its position in Stryker by 16.9% in the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after acquiring an additional 26 shares during the period. Pitti Group Wealth Management LLC boosted its stake in shares of Stryker by 3.2% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after acquiring an additional 27 shares during the last quarter. Sachetta LLC increased its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Kovack Advisors Inc. increased its stake in shares of Stryker by 3.6% in the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after purchasing an additional 27 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In related news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 522,118 shares of company stock valued at $185,381,932. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $364.45 on Monday. The firm has a market cap of $139.37 billion, a price-to-earnings ratio of 47.89, a P/E/G ratio of 2.33 and a beta of 0.89. The firm has a fifty day moving average price of $360.20 and a 200 day moving average price of $373.79. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the prior year, the firm earned $2.87 EPS. The business’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is currently 46.25%.

Analysts Set New Price Targets

Several research firms recently weighed in on SYK. Needham & Company LLC reiterated a “buy” rating and set a $448.00 target price on shares of Stryker in a research report on Friday, November 14th. UBS Group set a $408.00 price objective on Stryker in a research report on Monday, October 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $435.00 price objective on shares of Stryker in a research note on Friday, November 14th. Sanford C. Bernstein raised their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Finally, Truist Financial lowered their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $430.00.

Stryker Company Profile

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.