Wealth Enhancement Advisory Services LLC Increases Stock Holdings 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 grew its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 6.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,884 shares of the medical technology company's stock after acquiring 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after buying an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after purchasing an additional 261,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Stryker by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock worth $776,871,000 after acquiring an additional 83,954 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK stock traded up $3.81 during trading on Monday, reaching $380.64. The company had a trading volume of 382,557 shares, compared to its average volume of 1,385,838. The firm's 50 day simple moving average is $387.52 and its two-hundred day simple moving average is $379.05. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a market capitalization of $145.52 billion, a PE ratio of 50.41, a PEG ratio of 2.71 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is 44.50%.

Analysts Set New Price Targets

Several research firms recently weighed in on SYK. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Rothschild Redb upgraded Stryker to a "hold" rating in a research report on Thursday. Rothschild & Co Redburn assumed coverage on Stryker in a research note on Thursday. They set a "neutral" rating and a $420.00 price target for the company. Redburn Partners set a $420.00 price objective on shares of Stryker in a report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

Insiders Place Their Bets

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

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.