Janney Montgomery Scott LLC Has $23.32 Million Stock Position in Stryker Co. (NYSE:SYK)

Janney Montgomery Scott LLC raised its holdings in Stryker Co. (NYSE:SYK) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 64,555 shares of the medical technology company’s stock after acquiring an additional 517 shares during the period. Janney Montgomery Scott LLC’s holdings in Stryker were worth $23,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norden Group LLC acquired a new position in shares of Stryker in the first quarter valued at $280,000. Whittier Trust Co. increased its holdings in Stryker by 4.2% in the 1st quarter. Whittier Trust Co. now owns 3,346 shares of the medical technology company’s stock valued at $1,197,000 after buying an additional 134 shares during the period. Central Pacific Bank Trust Division bought a new stake in Stryker in the 1st quarter valued at $39,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after buying an additional 5,502 shares during the period. Finally, Avidian Wealth Solutions LLC increased its holdings in Stryker by 33.9% in the 1st quarter. Avidian Wealth Solutions LLC now owns 2,385 shares of the medical technology company’s stock valued at $853,000 after buying an additional 604 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 0.1 %

Shares of NYSE SYK opened at $366.90 on Tuesday. The firm’s 50-day simple moving average is $360.43 and its 200 day simple moving average is $344.64. The company has a market cap of $139.87 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12-month low of $266.93 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the company earned $2.46 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. Stryker’s payout ratio is presently 34.30%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYK. UBS Group boosted their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group boosted their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Finally, Needham & Company LLC upped their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,068 shares of company stock worth $3,693,972. Company insiders own 5.90% of the company’s stock.

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.