Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Stryker Corporation $SYK

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 153,133 shares of the medical technology company’s stock after acquiring an additional 5,249 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Stryker were worth $56,543,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SYK. Two Point Capital Management Inc. purchased a new position in shares of Stryker in the 2nd quarter valued at $7,281,000. Diversified Trust Co boosted its position in Stryker by 45.6% during the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after purchasing an additional 3,899 shares in the last quarter. SVB Wealth LLC bought a new position in Stryker in the second quarter worth about $4,785,000. AXQ Capital LP bought a new stake in shares of Stryker in the 2nd quarter valued at about $567,000. Finally, Hendley & Co. Inc. raised its stake in shares of Stryker by 60.3% during the 2nd quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company’s stock worth $5,546,000 after acquiring an additional 5,274 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK traded down $3.45 during trading on Tuesday, hitting $360.33. The stock had a trading volume of 179,273 shares, compared to its average volume of 1,800,291. The stock has a 50-day simple moving average of $360.39 and a two-hundred day simple moving average of $373.60. The stock has a market capitalization of $137.80 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 2.33 and a beta of 0.89. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same period last year, the firm posted $2.87 EPS. Stryker’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s payout ratio is presently 46.25%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 522,118 shares of company stock valued at $185,381,932. Company insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Sanford C. Bernstein raised their target price on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Evercore ISI set a $390.00 target price on Stryker in a research report on Monday, January 5th. The Goldman Sachs Group set a $399.00 price target on Stryker in a report on Friday, January 9th. Finally, BTIG Research restated a “buy” rating and set a $410.00 price objective on shares of Stryker in a report on Friday, November 14th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $430.00.

About Stryker

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.