Wesbanco Bank Inc. Purchases 1,324 Shares of Stryker Co. (NYSE:SYK)

Wesbanco Bank Inc. increased its position in shares of Stryker Co. (NYSE:SYK) by 5.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,496 shares of the medical technology company’s stock after acquiring an additional 1,324 shares during the period. Wesbanco Bank Inc.’s holdings in Stryker were worth $9,900,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Planning LLC boosted its stake in shares of Stryker by 3.6% during the fourth quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares in the last quarter. Alhambra Investment Management LLC boosted its stake in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after purchasing an additional 29 shares in the last quarter. Avestar Capital LLC boosted its stake in shares of Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after purchasing an additional 31 shares in the last quarter. Union Savings Bank boosted its stake in shares of Stryker by 1.0% during the fourth quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock valued at $1,138,000 after purchasing an additional 31 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 1.4 %

Shares of Stryker stock opened at $390.31 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The stock has a 50 day moving average price of $375.78 and a two-hundred day moving average price of $359.94. The stock has a market capitalization of $148.79 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s payout ratio is presently 36.01%.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on SYK shares. Needham & Company LLC reissued a “buy” rating and set a $442.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Wells Fargo & Company raised their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $405.80.

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.