Wealth Alliance Acquires 71 Shares of Stryker Co. (NYSE:SYK)

Wealth Alliance grew its position in shares of Stryker Co. (NYSE:SYK) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,156 shares of the medical technology company’s stock after purchasing an additional 71 shares during the period. Wealth Alliance’s holdings in Stryker were worth $646,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Octavia Wealth Advisors LLC boosted its stake in shares of Stryker by 11.2% during the fourth quarter. Octavia Wealth Advisors LLC now owns 1,633 shares of the medical technology company’s stock valued at $490,000 after purchasing an additional 165 shares in the last quarter. Suncoast Equity Management lifted its stake in shares of Stryker by 1.1% in the fourth quarter. Suncoast Equity Management now owns 120,886 shares of the medical technology company’s stock worth $36,200,000 after acquiring an additional 1,267 shares during the period. Bourgeon Capital Management LLC acquired a new position in shares of Stryker in the fourth quarter worth approximately $37,000. Bison Wealth LLC lifted its stake in shares of Stryker by 3.6% in the fourth quarter. Bison Wealth LLC now owns 7,206 shares of the medical technology company’s stock worth $2,158,000 after acquiring an additional 249 shares during the period. Finally, Ballast Advisors LLC lifted its stake in shares of Stryker by 44.4% in the fourth quarter. Ballast Advisors LLC now owns 2,673 shares of the medical technology company’s stock worth $800,000 after acquiring an additional 822 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYK. Truist Financial lifted their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Royal Bank of Canada lifted their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday. Roth Mkm lifted their price objective on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Evercore ISI lifted their target price on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Wells Fargo & Company lifted their target price on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.45.

Stryker Trading Down 0.5 %

Shares of Stryker stock opened at $336.03 on Thursday. The stock has a fifty day simple moving average of $350.57 and a 200 day simple moving average of $312.03. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a market capitalization of $127.85 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 2.72 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the prior year, the company posted $3.00 earnings per share. Stryker’s revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s dividend payout ratio is presently 38.79%.

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.