TD Waterhouse Canada Inc. Increases Holdings in Stryker Corporation $SYK

TD Waterhouse Canada Inc. increased its stake in Stryker Corporation (NYSE:SYK) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,906 shares of the medical technology company’s stock after acquiring an additional 3,039 shares during the period. TD Waterhouse Canada Inc.’s holdings in Stryker were worth $63,329,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC lifted its stake in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after acquiring an additional 609 shares during the period. Venture Visionary Partners LLC increased its holdings in shares of Stryker by 21.7% in the 2nd quarter. Venture Visionary Partners LLC now owns 5,199 shares of the medical technology company’s stock valued at $2,057,000 after acquiring an additional 926 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Stryker by 23.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 85,479 shares of the medical technology company’s stock worth $33,818,000 after acquiring an additional 16,322 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in Stryker by 29.9% in the second quarter. Raleigh Capital Management Inc. now owns 178 shares of the medical technology company’s stock valued at $70,000 after purchasing an additional 41 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its position in shares of Stryker by 1.8% during the second quarter. Capital Investment Advisors LLC now owns 3,299 shares of the medical technology company’s stock valued at $1,305,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 522,118 shares of company stock valued at $185,381,932 over the last three months. 5.20% of the stock is owned by company insiders.

Stryker Stock Performance

Shares of SYK stock opened at $358.19 on Thursday. The firm has a market cap of $136.98 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 2.27 and a beta of 0.89. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The stock’s 50-day moving average is $359.50 and its two-hundred day moving average is $372.07. 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 announced its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company 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. Stryker’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on SYK. Royal Bank Of Canada reissued an “outperform” rating and issued a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Piper Sandler restated an “overweight” rating on shares of Stryker in a research note on Tuesday. TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a research note on Monday. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a research note on Friday, December 19th. Finally, BTIG Research reiterated a “buy” rating and issued a $410.00 target price on shares of Stryker in a research report on Friday, November 14th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $425.94.

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.