Ashton Thomas Private Wealth LLC Buys 2,040 Shares of Stryker Corporation $SYK

Ashton Thomas Private Wealth LLC grew its stake in Stryker Corporation (NYSE:SYK) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,254 shares of the medical technology company’s stock after buying an additional 2,040 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Stryker were worth $9,357,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SGL Investment Advisors Inc. purchased a new stake in Stryker during the third quarter valued at about $228,000. Westside Investment Management Inc. raised its holdings in shares of Stryker by 31.0% during the 3rd quarter. Westside Investment Management Inc. now owns 385 shares of the medical technology company’s stock valued at $141,000 after buying an additional 91 shares in the last quarter. Strengthening Families & Communities LLC lifted its position in Stryker by 2,726.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 8,366 shares of the medical technology company’s stock worth $3,090,000 after buying an additional 8,070 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Stryker by 88.8% during the third quarter. Raleigh Capital Management Inc. now owns 336 shares of the medical technology company’s stock valued at $124,000 after acquiring an additional 158 shares during the last quarter. Finally, Nichols & Pratt Advisers LLP MA raised its stake in shares of Stryker by 0.8% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 51,116 shares of the medical technology company’s stock worth $18,896,000 after acquiring an additional 408 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BTIG Research lifted their target price on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a report on Saturday. Needham & Company LLC raised their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Citigroup reissued a “market outperform” rating on shares of Stryker in a report on Friday. Finally, Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research note on Friday, December 19th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $426.56.

Stryker Stock Performance

Shares of Stryker stock opened at $360.72 on Wednesday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The firm has a market capitalization of $137.95 billion, a P/E ratio of 42.94, a P/E/G ratio of 2.33 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $359.07 and a two-hundred day simple moving average of $371.19.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio is 41.90%.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. The trade was a 40.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 278,291 shares of company stock valued at $98,340,570 in the last quarter. 5.20% of the stock is owned by insiders.

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.