SeaCrest Wealth Management LLC Has $371,000 Holdings in Stryker Co. (NYSE:SYK)

SeaCrest Wealth Management LLC grew its position in Stryker Co. (NYSE:SYK) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,089 shares of the medical technology company’s stock after purchasing an additional 35 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Stryker were worth $371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SYK. Burkett Financial Services LLC acquired a new stake in shares of Stryker in the fourth quarter valued at about $25,000. Rogco LP acquired a new position in shares of Stryker during the fourth quarter valued at about $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker in the fourth quarter valued at about $34,000. Central Pacific Bank Trust Division acquired a new position in Stryker in the 1st quarter valued at approximately $39,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $40,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. UBS Group boosted their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Needham & Company LLC boosted their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler boosted their target price on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $373.11.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Stock Up 0.1 %

Shares of NYSE SYK traded up $0.18 during trading hours on Wednesday, hitting $343.11. The company had a trading volume of 109,078 shares, compared to its average volume of 1,306,584. The stock has a market capitalization of $130.71 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 2.61 and a beta of 0.89. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The firm’s 50 day moving average is $335.60 and its 200-day moving average is $340.81.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $2.54 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that Stryker Co. will post 11.99 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.