AdvisorShares Investments LLC Has $6.56 Million Stock Holdings in Stryker Co. (NYSE:SYK)

AdvisorShares Investments LLC boosted its position in Stryker Co. (NYSE:SYK) by 7.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 19,484 shares of the medical technology company’s stock after purchasing an additional 1,326 shares during the period. Stryker comprises 1.1% of AdvisorShares Investments LLC’s holdings, making the stock its 12th largest position. AdvisorShares Investments LLC’s holdings in Stryker were worth $6,556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Precision Wealth Strategies LLC boosted its stake in Stryker by 2.1% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 65 shares during the period. Gryphon Financial Partners LLC acquired a new position in shares of Stryker in the fourth quarter valued at about $348,000. Dimensional Fund Advisors LP increased its position in Stryker by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 681,784 shares of the medical technology company’s stock worth $204,166,000 after acquiring an additional 19,996 shares during the period. Avantax Advisory Services Inc. raised its stake in Stryker by 9.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 9,884 shares of the medical technology company’s stock worth $2,960,000 after purchasing an additional 844 shares in the last quarter. Finally, Quotient Wealth Partners LLC bought a new stake in Stryker in the 4th quarter valued at about $1,535,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYK shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Stifel Nicolaus dropped their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Evercore ISI reduced their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. UBS Group boosted their price target on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the company’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 sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the 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 transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is currently owned by insiders.

Stryker Trading Up 0.6 %

SYK opened at $365.10 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $365.96. The company’s 50 day moving average price is $340.21 and its two-hundred day moving average price is $342.04. The firm has a market capitalization of $139.13 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, research analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio (DPR) 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.