Wesbanco Bank Inc. Buys 3,621 Shares of Stryker Corporation $SYK

Key Points

• Wesbanco Bank Inc. increased its stake in Stryker Corporation by 12.7%, acquiring an additional 3,621 shares during the second quarter, bringing its total holdings to 32,169 shares valued at approximately $12.7 million.
• Stryker reported strong earnings, with $3.13 EPS for the last quarter, exceeding estimates, and an annual revenue increase of 11.1%.
• The company also announced a quarterly dividend of $0.84 per share set to be paid on October 31st, representing an annual yield of 0.9%.

Wesbanco Bank Inc. boosted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 12.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,169 shares of the medical technology company's stock after acquiring an additional 3,621 shares during the quarter. Wesbanco Bank Inc.'s holdings in Stryker were worth $12,727,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SYK. Capital A Wealth Management LLC bought a new stake in Stryker during the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new stake in Stryker during the first quarter worth approximately $32,000. City Holding Co. increased its stake in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Stryker during the first quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the first quarter worth approximately $40,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 1.4%

Shares of NYSE SYK opened at $383.32 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $388.98 and a two-hundred day simple moving average of $379.57. The firm has a market cap of $146.55 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 2.80 and a beta of 0.93. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

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

Stryker Dividend Announcement

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

Analysts Set New Price Targets

SYK has been the subject of several recent analyst reports. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus price target of $431.42.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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.

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