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Stone Point Wealth LLC Increases Its Holdings in Stryker Co. (NYSE:SYK)

Stone Point Wealth LLC Increases Its Holdings in Stryker Co. (NYSE:SYK)

According to the most recent report that Stone Point Wealth LLC submitted to the Securities and Exchange Commission, the amount of Stryker Co. (NYSE: SYK) shares it owned increased by 3.0% during the third quarter. The fund now holds 15,661 shares of the company’s stock after purchasing an additional 450 shares of the medical technology company’s stock during the quarter. This brings the fund’s total number of shares owned by the company to 15,661. The investment portfolio managed by Stone Point Wealth LLC includes approximately 1.9% of Stryker, which holds the eighth position among all available companies. After the most recent reporting period, it was determined that Stone Point Wealth LLC’s holdings in Stryker were worth a total of $3,172,000.

Several other large investors in SYK have recently made changes to the quantity of the company’s stock that they own, and these changes have been made. The return on investment for the first three months of the year for Carolinas Wealth Consulting LLC’s investment in Stryker was a percentage equal to 3.0%. After making an additional purchase of 45 shares during the most recent quarter, Carolinas Wealth Consulting LLC now has a total of 1,533 shares, corresponding to a market capitalization of $411,000. This was achieved as a result of the company’s growth in market share. During the third quarter, Intelligence Driven Advisers LLC made a 1.7% purchase of additional Stryker stock, bringing the company’s holdings to 24.1%. Following the acquisition of an additional 47 shares during the period in question, Intelligence Driven Advisers LLC now possesses 2,817 shares in the medical technology company, with a combined value of $596,000. Pinnacle Financial Partners Inc. increased the proportion of Stryker stock owned by 0.9% during the third quarter. Pinnacle Financial Partners Inc. now has a total of 5,285 shares of the medical technology company’s stock after making an additional purchase of 49 shares during the most recent period. The company’s stock is currently valued at a sum equal to or greater than $1,070,000. Through the course of the third quarter, Cornerstone Advisory LLC was able to achieve a 0.9% increase in the proportion of Stryker stock that it owned. Cornerstone Advisory LLC now holds 5,588 shares of the medical technology company’s stock, which has a market value of $1130,000 thanks to purchasing an additional 50 shares during the period in question. And as a final point of interest, Donaldson Capital Management LLC increased the percentage of Stryker shares it owned by 2.3% during the second quarter. As of today, Donaldson Capital Management LLC possesses an additional 51 shares of the medical technology company’s stock, bringing their total holdings to 2,226 shares, which collectively have a market value of $443,000. Institutional investors own 77.10% of the company’s shares currently in circulation.

In recent press releases, several equity analysts were asked about their thoughts on SYK shares and provided their responses. Trust Financial upgraded Stryker from a “hold” rating to a “buy” rating and raised their price objective from $230.00 to $252.00 in a research report that was made public on Tuesday, December 20. The report was released in conjunction with the company’s earnings release. In a research note made public on Wednesday, December 14, Cowen announced that they had increased their price target for Stryker from $233.00 to $283.00. Canaccord Genuity Group lowered their price objective on Stryker from $225.00 to $220.00 and changed their rating on the stock from “buy” to “hold” in a research report published on Tuesday, November 1. In addition, Stryker was downgraded from a “buy” rating to a “hold” rating. The recent performance of the company’s stock prompted both actions, which were taken in response to that performance. Piper Sandler stated their intention to reduce their price target for Stryker shares from $260.00 to $250.00 in a research note published on October 10. In a research note published on Friday, November 4, the rating for Stryker on StockNews.com was changed from “hold” to “buy.” Six research analysts have assigned the stock a rating of “hold,” while thirteen others have assigned the stock a rating of “buy.” According to data from Bloomberg.com, the current consensus rating for Stryker is “Moderate Buy,” The website reports that the average price target is $260.68. This information was used to compile the data presented in this paragraph.

On Thursday, the price of a share of SYK fell by $1.17, bringing the total value of the company’s stock to $250.85. There were a total of 22,053 transactions in company stock, which is significantly lower than the daily volume of the company, which is 1,484,894 shares. Stryker Co. reached an all-time high of $279.28 during the past year, while the company’s stock reached an all-time low of $188.84 during the same period. All three financial ratios, including the debt-to-equity ratio, the current ratio, and the quick ratio, total 1.19. The current and quick ratios are at 1.19, with the current ratio sitting at 2.04. The fluctuating average of the company’s stock price over the past two hundred days is $222.05. Over the last fifty days, the weighted moving average has been 241.08 dollars. The company’s stock has a market capitalization of $94.93 billion, a price-to-earnings ratio of 38.89, a price-to-earnings-growth ratio of 2.90, and a beta value of 0.94. All of these metrics point to the stock being a solid investment.

On Monday, October 31, Stryker’s most recent quarterly earnings report (NYSE: SYK) was made public for the investing community to see. Earnings per share for the quarter were reported to be $2.12 by the medical equipment manufacturer, which was $0.12 less than the consensus projection of $2.24. Stryker had a return on equity of 22.27%, while the company only had a net margin of 13.69%. The actual revenue the company brought in for the quarter was $4.48 billion, which is higher than the forecasted revenue of $4.46 billion expected for the company during the quarter. The company made a profit of $2.20 per share during the same period the year before, which was the same period. In comparison to the same period in the previous year, the third quarter saw a revenue increase of 7.7% for the company. According to the projections made by research analysts for the financial performance of Stryker Company in 2018, earnings of 9.17 dollars per share are anticipated.

In addition, the corporation has declared a quarterly dividend, which will be paid out on the 31st of this month as originally planned. A dividend payment to shareholders of record will be made on Friday, December 30, in the amount of $0.75. This dividend payment will be made. December 29, which is a Thursday, is the date that will mark the beginning of the “ex-dividend” status for this dividend. This equates to a dividend yield of 1.20 percent and a dividend payment of three dollars yearly. Since the most recent quarterly dividend paid by Stryker was $0.70, we can say that this represents an increase because of this fact. The dividend payout ratio for Stryker is currently calculated to be 46.66 percent.

Kevin Lobo, the company’s chief executive officer, sold 67,232 shares of the company’s stock on Friday, December 2. A total of $16,114,165.76 was received for the sale of the shares, which works out to an average price of $239.68 per share. Following the conclusion of the transaction, the Chief Executive Officer will become the owner of 80,770 shares of the company’s stock. The current market price for these shares is $19,358,953.60. If you follow this link, you will be taken to a document submitted to the Securities and Exchange Commission (SEC). The document contains an in-depth explanation of the reported transaction to the SEC. Kevin Lobo, the company’s chief executive officer, sold 67,232 shares of the company’s stock on Friday, December 2. A total of $16,114,165.76 was received for the sale of the shares, which works out to an average price of $239.68 per share. Following the conclusion of the transaction, the Chief Executive Officer will become the owner of 80,770 shares of the company’s stock. The current market price for these shares is $19,358,953.60. If you follow this link, you will be taken to a document submitted to the Securities and Exchange Commission (SEC). The document contains an in-depth explanation of the reported transaction to the SEC.

Additionally, on November 2, Kathryn Fink, Vice President of Marketing, sold 340 shares of the company’s stock. The total amount received for the stock sale was $74,691.20, equivalent to an average selling price of $219.68 per share sold. Following the completion of the sale, the vice president will have a direct ownership interest in a total of 12,774 shares of the company’s stock. The total value of these shares is approximately $2,806,192.32 at present. Disclosures that are related to the sale might be found in this section of the website. In the most recent ninety days, insiders sold 80,079 company stock for a total value of $19,354,832. The company’s insiders hold a total of 6,50% of the total number of shares that are currently outstanding.

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