Ferguson Wellman Capital Management Inc. Buys 1,374 Shares of Stryker Corporation $SYK

Ferguson Wellman Capital Management Inc. lifted its stake in Stryker Corporation (NYSE:SYK) by 0.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 180,039 shares of the medical technology company’s stock after buying an additional 1,374 shares during the quarter. Stryker makes up about 1.1% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 28th biggest holding. Ferguson Wellman Capital Management Inc.’s holdings in Stryker were worth $66,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after acquiring an additional 440,607 shares in the last quarter. State Street Corp grew its holdings in shares of Stryker by 1.0% in the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after purchasing an additional 150,204 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Stryker by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after purchasing an additional 79,654 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the last quarter. Finally, Norges Bank acquired a new position in Stryker in the second quarter valued at about $1,882,173,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of Stryker 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 completion of the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 522,118 shares of company stock valued at $185,381,932 over the last ninety days. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.2%

NYSE SYK opened at $367.13 on Friday. The stock has a market capitalization of $140.40 billion, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 2.36 and a beta of 0.89. Stryker Corporation has a 52 week low of $329.16 and a 52 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. The stock has a fifty day moving average of $359.67 and a 200-day moving average of $375.24.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.87 earnings per share. On average, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.0%. This is a positive change from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is presently 46.25%.

Analysts Set New Price Targets

Several analysts have recently weighed in on SYK shares. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective for the company in a report on Tuesday. Rothschild Redb raised Stryker to a “hold” rating in a report on Thursday, September 18th. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research report on Friday, December 19th. Wells Fargo & Company increased their target price on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Rothschild & Co Redburn started coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target for the company. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $430.40.

Stryker 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.