Advisors Asset Management Inc. Buys 2,197 Shares of Stryker Corporation $SYK

Advisors Asset Management Inc. increased its stake in shares of Stryker Corporation (NYSE:SYK) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,644 shares of the medical technology company’s stock after acquiring an additional 2,197 shares during the period. Advisors Asset Management Inc.’s holdings in Stryker were worth $12,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares in the last quarter. CWM LLC lifted its stake in Stryker by 1.6% in the 2nd quarter. CWM LLC now owns 17,652 shares of the medical technology company’s stock valued at $6,984,000 after acquiring an additional 282 shares in the last quarter. MGO One Seven LLC boosted its position in Stryker by 59.0% during the 2nd quarter. MGO One Seven LLC now owns 4,973 shares of the medical technology company’s stock worth $1,968,000 after acquiring an additional 1,845 shares during the last quarter. Vest Financial LLC boosted its holdings in Stryker by 17.8% during the second quarter. Vest Financial LLC now owns 642 shares of the medical technology company’s stock worth $254,000 after purchasing an additional 97 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Stryker by 4.6% in the second quarter. Sequoia Financial Advisors LLC now owns 12,962 shares of the medical technology company’s stock valued at $5,128,000 after purchasing an additional 572 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK stock opened at $361.20 on Wednesday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The company has a market capitalization of $138.13 billion, a price-to-earnings ratio of 43.00, a PEG ratio of 2.08 and a beta of 0.87. The company has a 50-day simple moving average of $357.96 and a 200 day simple moving average of $369.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating 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 firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the prior year, the firm earned $4.01 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Insider Buying and Selling at Stryker

In related 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 252,118 shares of company stock valued at $91,504,172 in the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein raised their price objective on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Evercore set a $390.00 price objective on Stryker in a report on Monday, January 5th. Barclays reissued an “overweight” rating and issued a $469.00 target price on shares of Stryker in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company 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.