Cerity Partners LLC Buys 3,419 Shares of Stryker Corporation $SYK

Cerity Partners LLC boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,999 shares of the medical technology company’s stock after purchasing an additional 3,419 shares during the quarter. Cerity Partners LLC’s holdings in Stryker were worth $117,554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SeaBridge Investment Advisors LLC increased its holdings in shares of Stryker by 4.8% during the 3rd quarter. SeaBridge Investment Advisors LLC now owns 7,810 shares of the medical technology company’s stock worth $2,887,000 after purchasing an additional 356 shares during the period. Kathmere Capital Management LLC increased its stake in Stryker by 4.3% during the third quarter. Kathmere Capital Management LLC now owns 897 shares of the medical technology company’s stock valued at $332,000 after acquiring an additional 37 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in Stryker by 1.6% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 2,410 shares of the medical technology company’s stock valued at $891,000 after acquiring an additional 38 shares in the last quarter. Milestone Asset Management Group LLC lifted its position in shares of Stryker by 26.6% in the 3rd quarter. Milestone Asset Management Group LLC now owns 753 shares of the medical technology company’s stock worth $278,000 after acquiring an additional 158 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Stryker by 5.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,383 shares of the medical technology company’s stock worth $4,578,000 after purchasing an additional 591 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 522,118 shares of company stock valued at $185,381,932. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. BTIG Research reaffirmed a “buy” rating and set a $410.00 price objective on shares of Stryker in a report on Friday, November 14th. Evercore ISI set a $390.00 target price on shares of Stryker in a research report on Monday. UBS Group set a $408.00 price target on shares of Stryker in a research report on Monday, October 13th. Finally, Citigroup cut their price target on shares of Stryker from $455.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $430.40.

Stryker Trading Up 5.1%

Shares of Stryker stock opened at $366.46 on Wednesday. The stock has a market capitalization of $140.14 billion, a P/E ratio of 48.16, a price-to-earnings-growth ratio of 2.23 and a beta of 0.89. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $359.75 and a 200 day simple moving average of $375.35.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping 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 firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the prior year, the firm earned $2.87 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal 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 given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is presently 46.25%.

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.