Wealthfront Advisers LLC Increases Stock Position in Stryker Corporation $SYK

Wealthfront Advisers LLC boosted its position in Stryker Corporation (NYSE:SYK) by 10.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,860 shares of the medical technology company’s stock after acquiring an additional 3,823 shares during the period. Wealthfront Advisers LLC’s holdings in Stryker were worth $15,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new position in Stryker during the 2nd quarter valued at about $26,000. Clayton Financial Group LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Stryker in the 2nd quarter worth approximately $28,000. Kilter Group LLC purchased a new position in shares of Stryker during the second quarter valued at approximately $29,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of Stryker during the second quarter valued at approximately $29,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYK. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. TD Cowen lowered shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a report on Monday, January 26th. Needham & Company LLC lifted their target price on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Evercore set a $390.00 price target on shares of Stryker in a research report on Monday, January 5th. Finally, Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a research note on Friday, December 19th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $426.94.

Stryker Trading Up 1.4%

NYSE:SYK opened at $361.20 on Wednesday. The firm has a market capitalization of $138.13 billion, a P/E ratio of 43.00, a PEG ratio of 2.08 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The company’s 50-day simple moving average is $357.96 and its 200 day simple moving average is $369.88.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $4.01 earnings per share. As a group, analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio is currently 41.90%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 252,118 shares of company stock worth $91,504,172 over the last three months. 5.20% of the stock is currently owned by corporate insiders.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.