Strategic Wealth Partners Ltd. Acquires 246 Shares of Stryker Co. (NYSE:SYK)

Strategic Wealth Partners Ltd. grew its position in Stryker Co. (NYSE:SYK) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,674 shares of the medical technology company’s stock after buying an additional 246 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Stryker were worth $6,746,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Koshinski Asset Management Inc. bought a new position in Stryker in the first quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares in the last quarter. Norden Group LLC bought a new position in shares of Stryker during the 1st quarter valued at approximately $4,027,000. International Assets Investment Management LLC bought a new stake in Stryker during the 1st quarter worth approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Stryker by 38.5% during the first 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 purchasing an additional 5,502 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SYK shares. Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Finally, Truist Financial lowered their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.37.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by insiders.

Stryker Trading Up 1.6 %

SYK stock opened at $350.81 on Wednesday. The company has a market capitalization of $133.64 billion, a PE ratio of 40.05, a P/E/G ratio of 2.71 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The firm’s 50-day moving average is $350.01 and its 200 day moving average is $342.93.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the company posted $2.54 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

About Stryker

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.