Stryker Co. (NYSE:SYK) Shares Sold by AE Wealth Management LLC

Posted by Defense World Staff on Apr 19th, 2023

AE Wealth Management LLC trimmed its stake in Stryker Co. (NYSE:SYK – Get Rating) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,640 shares of the medical technology company’s stock after selling 1,258 shares during the quarter. AE Wealth Management LLC’s holdings in Stryker were worth $3,335,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SYK. Fairfield Bush & CO. acquired a new position in shares of Stryker in the first quarter worth $131,000. Dimensional Fund Advisors LP raised its holdings in shares of Stryker by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock worth $180,182,000 after acquiring an additional 9,026 shares during the last quarter. Prudential PLC acquired a new position in shares of Stryker in the first quarter worth $1,444,000. Sequoia Financial Advisors LLC raised its holdings in shares of Stryker by 21.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock worth $817,000 after acquiring an additional 543 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of Stryker by 9.2% in the first quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock worth $839,000 after acquiring an additional 265 shares during the last quarter. 77.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO William E. Berry, Jr. sold 4,058 shares of the business’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $279.79, for a total value of $1,135,387.82. Following the transaction, the chief accounting officer now owns 2,886 shares in the company, valued at $807,473.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO William E. Berry, Jr. sold 4,058 shares of the business’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $279.79, for a total value of $1,135,387.82. Following the transaction, the chief accounting officer now owns 2,886 shares in the company, valued at $807,473.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Allan C. Golston sold 5,459 shares of the business’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $263.27, for a total value of $1,437,190.93. Following the completion of the transaction, the director now owns 13,537 shares in the company, valued at approximately $3,563,885.99. The disclosure for this sale can be found here. Insiders have sold a total of 347,303 shares of company stock worth $95,218,362 over the last quarter. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SYK shares. Piper Sandler boosted their price target on Stryker from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, February 1st. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $250.00 price objective on shares of Stryker in a research report on Tuesday, March 28th. BTIG Research lifted their price objective on Stryker from $281.00 to $299.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com assumed coverage on Stryker in a research report on Thursday, March 16th. They issued a “buy” rating for the company. Finally, Truist Financial lifted their price objective on Stryker from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $280.70.

Stryker Trading Down 0.6 %

Shares of SYK opened at $290.92 on Wednesday. The stock’s 50-day moving average is $274.00 and its two-hundred day moving average is $249.72. The stock has a market cap of $110.29 billion, a PE ratio of 47.15, a P/E/G ratio of 2.99 and a beta of 0.94. Stryker Co. has a 12 month low of $188.84 and a 12 month high of $294.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.63 and a quick ratio of 1.00.

Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The medical technology company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.16. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Stryker had a return on equity of 22.39% and a net margin of 12.78%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 earnings per share. Equities analysts forecast that Stryker Co. will post 10.02 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, March 30th. Stryker’s dividend payout ratio is presently 48.62%.

Stryker Profile

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Stryker Corp. is a medical technology company, which engages in the provision of innovative products and services that help improve patient and healthcare outcomes. It operates under the MedSurg and Neurotechnology, and Orthopaedics and Spine segments. The MedSurg and Neurotechnology segment includes surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment, intensive care disposable products, clinical communication, workflow solutions, products for the treatment of acute ischemic and hemorrhagic stroke, traditional brain, and open skull based surgical procedures, orthobiologic, and biosurgery.