AE Wealth Management LLC Has $1.16 Million Stock Position in Stryker Co. (NYSE:SYK)

AE Wealth Management LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 101.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,414 shares of the medical technology company’s stock after purchasing an additional 1,722 shares during the period. AE Wealth Management LLC’s holdings in Stryker were worth $1,162,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Bridges Investment Management Inc. lifted its holdings in Stryker by 335.4% in the second quarter. Bridges Investment Management Inc. now owns 66,628 shares of the medical technology company’s stock valued at $22,670,000 after buying an additional 51,327 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Stryker by 49.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after purchasing an additional 228,139 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Stryker by 0.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 133,846 shares of the medical technology company’s stock worth $45,541,000 after purchasing an additional 557 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Stryker by 6.0% during the second quarter. Ieq Capital LLC now owns 34,960 shares of the medical technology company’s stock worth $11,895,000 after purchasing an additional 1,983 shares during the period. Finally, Bright Financial Advisors Inc. bought a new stake in Stryker in the second quarter valued at about $5,811,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 1.5 %

NYSE:SYK opened at $361.00 on Wednesday. The company has a market cap of $137.52 billion, a P/E ratio of 41.21, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $374.63. The business has a 50 day moving average price of $346.43 and a two-hundred day moving average price of $342.89. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm earned $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Evercore ISI decreased their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. BTIG Research increased their target price on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Truist Financial decreased their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Barclays raised their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $378.58.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

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.