Chesley Taft & Associates LLC Has $53.05 Million Position in Stryker Co. (NYSE:SYK)

Chesley Taft & Associates LLC cut its stake in Stryker Co. (NYSE:SYK) by 0.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 147,348 shares of the medical technology company’s stock after selling 533 shares during the period. Stryker makes up approximately 2.5% of Chesley Taft & Associates LLC’s holdings, making the stock its 8th largest holding. Chesley Taft & Associates LLC’s holdings in Stryker were worth $53,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dunhill Financial LLC lifted its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR raised its holdings in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker during the 3rd quarter worth approximately $36,000. Hara Capital LLC bought a new stake in Stryker in the third quarter valued at $42,000. Finally, HBW Advisory Services LLC bought a new position in shares of Stryker during the third quarter valued at $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird increased their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Up 0.6 %

NYSE:SYK opened at $383.91 on Tuesday. The firm has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The stock’s 50 day moving average price is $375.61 and its two-hundred day moving average price is $359.53.

Stryker (NYSE:SYK) last posted 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. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 earnings per share. Equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s payout ratio is presently 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.50% of the stock is owned by company 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.