Diversify Wealth Management LLC Has $3.21 Million Stake in Stryker Co. (NYSE:SYK)

Diversify Wealth Management LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 8,832 shares of the medical technology company’s stock after acquiring an additional 211 shares during the quarter. Diversify Wealth Management LLC’s holdings in Stryker were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Trust Direct Indexing L.P. increased its stake in Stryker by 8.0% in the third quarter. First Trust Direct Indexing L.P. now owns 13,882 shares of the medical technology company’s stock valued at $5,015,000 after acquiring an additional 1,031 shares during the period. WASHINGTON TRUST Co grew its stake in shares of Stryker by 0.7% in the 3rd quarter. WASHINGTON TRUST Co now owns 61,362 shares of the medical technology company’s stock valued at $22,168,000 after purchasing an additional 454 shares during the period. Mutual Advisors LLC raised its holdings in shares of Stryker by 9.0% in the 3rd quarter. Mutual Advisors LLC now owns 5,562 shares of the medical technology company’s stock worth $2,002,000 after buying an additional 457 shares in the last quarter. WD Rutherford LLC lifted its position in shares of Stryker by 11.7% during the 3rd quarter. WD Rutherford LLC now owns 10,467 shares of the medical technology company’s stock worth $3,781,000 after buying an additional 1,095 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its position in Stryker by 3.5% in the third quarter. Nicholas Hoffman & Company LLC. now owns 4,089 shares of the medical technology company’s stock valued at $1,477,000 after acquiring an additional 138 shares during the period. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $387.35.

Insider Activity

In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were 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 approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by insiders.

Stryker Stock Up 0.2 %

Shares of NYSE:SYK traded up $0.87 during mid-day trading on Wednesday, reaching $359.88. 1,008,465 shares of the stock were exchanged, compared to its average volume of 1,249,689. Stryker Co. has a one year low of $264.85 and a one year high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $359.43 and its 200-day simple moving average is $343.84. The company has a market cap of $137.10 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly 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 $2.78 by $0.09. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the business earned $2.46 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Stryker Company 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.