Wealthfront Advisers LLC Raises Holdings in Stryker Corporation $SYK

Wealthfront Advisers LLC lifted its holdings in Stryker Corporation (NYSE:SYK) by 10.3% in the 3rd quarter, Holdings Channel reports. The firm owned 40,860 shares of the medical technology company’s stock after acquiring an additional 3,823 shares during the period. Wealthfront Advisers LLC’s holdings in Stryker were worth $15,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Princeton Global Asset Management LLC raised its position in Stryker by 16.9% in the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after buying an additional 26 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in shares of Stryker by 3.6% during the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock valued at $305,000 after acquiring an additional 27 shares during the last quarter. Armstrong Advisory Group Inc. grew its stake in shares of Stryker by 12.3% in the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after acquiring an additional 27 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Stryker by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after purchasing an additional 27 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Stryker by 3.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 28 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

Shares of Stryker stock opened at $361.20 on Wednesday. The stock has a market cap of $138.13 billion, a P/E ratio of 43.00, a P/E/G ratio of 2.08 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The stock’s fifty day moving average is $357.96 and its 200 day moving average is $369.88. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Analysts Set New Price Targets

SYK has been the subject of a number of research analyst reports. Sanford C. Bernstein lifted their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Citigroup restated a “market outperform” rating on shares of Stryker in a research note on Friday, January 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. Wells Fargo & Company increased their target price on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Robert W. Baird set a $437.00 price target on Stryker in a research note on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $426.94.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 252,118 shares of company stock worth $91,504,172 in the last three months. Company insiders own 5.20% of the company’s stock.

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.