Avantax Advisory Services Inc. Raises Stock Position in Stryker Co. (NYSE:SYK)
Avantax Advisory Services Inc. grew its holdings in shares of Stryker Co. (NYSE:SYK) by 263.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,081 shares of the medical technology company’s stock after purchasing an additional 5,859 shares during the period. Avantax Advisory Services Inc.’s holdings in Stryker were worth $1,683,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Evolution Wealth Advisors LLC increased its stake in shares of Stryker by 64.4% during the second quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after buying an additional 56 shares during the period. Balentine LLC purchased a new stake in shares of Stryker during the first quarter worth approximately $31,000. Demars Financial Group LLC purchased a new stake in shares of Stryker during the second quarter worth approximately $32,000. NuWave Investment Management LLC purchased a new stake in shares of Stryker during the second quarter worth approximately $35,000. Finally, Campbell Wealth Management purchased a new stake in shares of Stryker during the second quarter worth approximately $45,000. Institutional investors own 71.02% of the company’s stock.
A number of analysts recently weighed in on the stock. Raymond James upped their target price on shares of Stryker from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, October 12th. Northland Securities started coverage on Stryker in a report on Tuesday, October 6th. They issued a “market perform” rating and a $225.00 price target for the company. Wells Fargo & Company upped their price target on Stryker from $222.00 to $232.00 and gave the company an “overweight” rating in a report on Monday, September 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a report on Friday, July 31st. Finally, UBS Group upped their price target on Stryker from $202.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Stryker presently has an average rating of “Buy” and a consensus price target of $219.50.
Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Stryker had a return on equity of 20.53% and a net margin of 11.38%. Analysts anticipate that Stryker Co. will post 6.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, September 29th. Stryker’s payout ratio is 27.85%.
In other Stryker news, CEO Kevin Lobo sold 25,855 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $190.80, for a total value of $4,933,134.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices that are used in various medical specialties.
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