Wealth Enhancement Advisory Services LLC Raises Stake in Stryker Corporation $SYK

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Stryker Corporation by 6.9% in Q2, acquiring an additional 9,528 shares, bringing their total holdings to 147,884 shares worth approximately $58.46 million.
• Stryker's stock has received positive ratings from analysts, with several firms raising their price targets and recurrent "buy" ratings, indicating a strong market interest in the company.
• The medical technology firm declared a quarterly dividend of $0.84 per share, with a scheduled payment date of October 31st, reflecting a dividend yield of 0.9% and a payout ratio of 44.50%.

Wealth Enhancement Advisory Services LLC raised its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,884 shares of the medical technology company's stock after purchasing an additional 9,528 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Stryker were worth $58,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Sunflower Bank N.A. grew its holdings in Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company's stock valued at $275,000 after purchasing an additional 27 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after buying an additional 29 shares during the period. Oakworth Capital Inc. lifted its position in shares of Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares during the last quarter. Strategy Asset Managers LLC lifted its position in shares of Stryker by 1.4% during the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock worth $794,000 after purchasing an additional 29 shares during the last quarter. Finally, Tritonpoint Wealth LLC lifted its position in shares of Stryker by 0.7% during the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Stryker Stock Performance

SYK traded up $1.87 during trading on Monday, reaching $378.70. 2,095,205 shares of the company's stock were exchanged, compared to its average volume of 985,669. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The stock has a market capitalization of $144.78 billion, a P/E ratio of 50.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.93. The company's fifty day simple moving average is $387.26 and its 200-day simple moving average is $379.05.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's payout ratio is presently 44.50%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial set a $415.00 price objective on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Rothschild & Co Redburn began coverage on shares of Stryker in a report on Thursday. They issued a "neutral" rating and a $420.00 price target for the company. Finally, Redburn Partners set a $420.00 price target on shares of Stryker in a report on Thursday. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $430.33.

Stryker 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.