Stryker Corporation $SYK Shares Bought by Wesbanco Bank Inc.

Wesbanco Bank Inc. grew its holdings in Stryker Corporation (NYSE:SYK) by 5.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 33,890 shares of the medical technology company’s stock after buying an additional 1,721 shares during the period. Wesbanco Bank Inc.’s holdings in Stryker were worth $12,528,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Princeton Global Asset Management LLC grew its stake in shares of Stryker by 16.9% in the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after purchasing an additional 26 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of Stryker by 3.6% during the second quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after purchasing an additional 27 shares during the last quarter. Armstrong Advisory Group Inc. lifted its holdings in shares of Stryker by 12.3% during the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after purchasing an additional 27 shares during the period. Venturi Wealth Management LLC grew its position in Stryker by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after buying an additional 27 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Stryker by 3.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 252,118 shares of company stock valued at $91,504,172. 5.20% of the stock is owned by insiders.

Stryker Trading Down 0.6%

Shares of SYK opened at $356.02 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The stock has a market cap of $136.15 billion, a price-to-earnings ratio of 42.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.87. The firm has a 50 day simple moving average of $358.07 and a 200-day simple moving average of $370.18.

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

Stryker Dividend Announcement

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

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a research note on Monday, January 26th. BTIG Research increased their price target on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Evercore set a $390.00 price objective on Stryker in a report on Monday, January 5th. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. Finally, Piper Sandler reissued an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.94.

About Stryker

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.