Wealth Enhancement Trust Services Inc. Acquires New Position in Stryker Corporation $SYK

Key Points

• Wealth Enhancement Trust Services Inc. bought a new position in Stryker (NYSE:SYK) in Q4 of 7,754 shares valued at about $2.725 million.
• Director Ronda E. Stryker sold 250,000 shares on Feb. 4 for roughly $90.73 million (avg. $362.92), cutting her stake by 9.23%; insiders now own 4.60% of the stock while institutions own about 77.09%.
• Stryker beat Q4 estimates (EPS $4.47 vs. $4.40; revenue $7.17B vs. $7.12B) and carries a consensus analyst rating of Moderate Buy (15 Buys, 6 Holds) with a $421.11 consensus target.

Wealth Enhancement Trust Services Inc. bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,754 shares of the medical technology company's stock, valued at approximately $2,725,000.

Several other institutional investors also recently bought and sold shares of SYK. Clayton Financial Group LLC acquired a new stake in shares of Stryker during the third quarter worth $26,000. United Financial Planning Group LLC acquired a new position in Stryker in the third quarter valued at $27,000. Strive Asset Management LLC purchased a new position in Stryker during the third quarter worth about $30,000. ANTIPODES PARTNERS Ltd purchased a new position in Stryker during the third quarter worth about $34,000. Finally, Copia Wealth Management boosted its stake in Stryker by 181.6% in the 3rd quarter. Copia Wealth Management now owns 107 shares of the medical technology company's stock worth $40,000 after buying an additional 69 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company's stock, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Needham & Company LLC lifted their price target on Stryker from $448.00 to $454.00 and gave the company a "buy" rating in a report on Friday, January 30th. Raymond James Financial upgraded shares of Stryker from a "market perform" rating to an "outperform" rating and set a $418.00 price objective on the stock in a report on Tuesday, January 6th. Sanford C. Bernstein boosted their target price on shares of Stryker from $450.00 to $465.00 and gave the company an "outperform" rating in a report on Friday, January 9th. Truist Financial dropped their price target on shares of Stryker from $395.00 to $380.00 and set a "hold" rating for the company in a research report on Wednesday. Finally, Robert W. Baird set a $437.00 price target on shares of Stryker in a research note on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $421.11.

Stryker Stock Performance

Shares of NYSE:SYK opened at $343.09 on Friday. The business has a 50-day moving average of $352.97 and a two-hundred day moving average of $359.54. The firm has a market capitalization of $131.40 billion, a PE ratio of 40.84, a P/E/G ratio of 1.98 and a beta of 0.92. 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 12 month low of $319.32 and a 12 month high of $404.87.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker's payout ratio is currently 41.90%.

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.

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