Wealth Enhancement Advisory Services LLC Cuts Stake in Stryker Co. (NYSE:SYK)

Wealth Enhancement Advisory Services LLC lowered its stake in Stryker Co. (NYSE:SYK) by 4.3% during the 1st quarter, Holdings Channel reports. The firm owned 74,347 shares of the medical technology company’s stock after selling 3,304 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Stryker were worth $26,606,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Burkett Financial Services LLC purchased a new position in Stryker in the 4th quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP purchased a new stake in shares of Stryker in the 4th quarter worth approximately $30,000. DSM Capital Partners LLC bought a new position in shares of Stryker during the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Roth Mkm increased their target price on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on shares of Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. UBS Group upped their target price on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their price target on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI increased their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $370.58.

Stryker Price Performance

NYSE:SYK traded down $0.01 during trading hours on Thursday, reaching $340.50. 723,349 shares of the company traded hands, compared to its average volume of 1,310,991. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The firm’s 50-day moving average is $336.82 and its 200-day moving average is $333.01. The stock has a market cap of $129.71 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.67 and a beta of 0.92. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the firm posted $2.14 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s dividend payout ratio is presently 36.53%.

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.