Wealth Enhancement Advisory Services LLC Boosts Stake in Stryker Co. (NYSE:SYK)

Wealth Enhancement Advisory Services LLC raised its holdings in Stryker Co. (NYSE:SYK) by 78.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 133,020 shares of the medical technology company’s stock after acquiring an additional 58,673 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Stryker were worth $45,260,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SYK. Burkett Financial Services LLC purchased a new stake in Stryker in the fourth quarter valued at approximately $25,000. Rogco LP purchased a new stake in shares of Stryker during the 4th quarter valued at $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker during the 4th quarter worth $34,000. Bourgeon Capital Management LLC purchased a new position in Stryker in the fourth quarter worth $37,000. Finally, Central Pacific Bank Trust Division bought a new position in Stryker in the first quarter valued at $39,000. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Up 0.5 %

Shares of SYK stock traded up $1.70 during trading hours on Wednesday, reaching $330.69. The company’s stock had a trading volume of 138,002 shares, compared to its average volume of 1,317,619. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $126.02 billion, a P/E ratio of 37.56, a P/E/G ratio of 2.53 and a beta of 0.89. The firm’s fifty day simple moving average is $336.62 and its 200 day simple moving average is $340.53. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts expect that Stryker Co. will post 11.99 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SYK shares. Morgan Stanley upped their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Robert W. Baird increased their price target on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Roth Mkm increased their target price on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and sixteen 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 an average target price of $373.11.

Stryker Company 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.