Clifford Swan Investment Counsel LLC Has $27.01 Million Stock Position in Stryker Co. (NYSE:SYK)

Clifford Swan Investment Counsel LLC lessened its stake in Stryker Co. (NYSE:SYK) by 1.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 90,203 shares of the medical technology company’s stock after selling 1,060 shares during the quarter. Stryker accounts for 1.1% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 23rd biggest position. Clifford Swan Investment Counsel LLC’s holdings in Stryker were worth $27,012,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after acquiring an additional 143,631 shares during the last quarter. FMR LLC boosted its holdings in Stryker by 2.5% during the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after purchasing an additional 144,208 shares during the last quarter. Morgan Stanley grew its position in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. Fisher Asset Management LLC increased its stake in Stryker by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 4,042,317 shares of the medical technology company’s stock valued at $1,210,512,000 after buying an additional 103,326 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Stryker by 3.9% in the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock valued at $957,974,000 after buying an additional 131,590 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYK. Piper Sandler raised their price objective on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus raised their price target on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research note on Wednesday. UBS Group raised their target price on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $365.94.

Stryker Stock Performance

Stryker stock traded up $1.82 during trading hours on Friday, hitting $328.45. The company had a trading volume of 1,589,424 shares, compared to its average volume of 1,415,127. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The firm has a market cap of $125.12 billion, a PE ratio of 37.49, a PEG ratio of 2.56 and a beta of 0.91. The firm has a 50-day moving average of $346.99 and a 200 day moving average of $317.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97.

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

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were 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 of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker 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.