Mission Wealth Management LP Buys Shares of 1,041 Stryker Co. (NYSE:SYK)
Mission Wealth Management LP bought a new stake in shares of Stryker Co. (NYSE:SYK) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,041 shares of the medical technology company’s stock, valued at approximately $217,000.
Other large investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC grew its stake in Stryker by 1,924.1% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,093 shares of the medical technology company’s stock valued at $197,000 after acquiring an additional 1,039 shares in the last quarter. AE Wealth Management LLC grew its stake in Stryker by 31.2% during the 2nd quarter. AE Wealth Management LLC now owns 12,812 shares of the medical technology company’s stock valued at $2,309,000 after acquiring an additional 3,045 shares in the last quarter. Bailard Inc. grew its stake in Stryker by 2.1% during the 2nd quarter. Bailard Inc. now owns 8,666 shares of the medical technology company’s stock valued at $1,562,000 after acquiring an additional 175 shares in the last quarter. Fulton Bank N. A. bought a new stake in shares of Stryker in the 2nd quarter valued at approximately $1,412,000. Finally, Creative Planning grew its stake in shares of Stryker by 2.2% in the 2nd quarter. Creative Planning now owns 36,354 shares of the medical technology company’s stock valued at $6,551,000 after buying an additional 772 shares in the last quarter. 71.02% of the stock is currently owned by institutional investors.
In other Stryker news, CEO Kevin Lobo sold 25,855 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $190.80, for a total value of $4,933,134.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. Stryker had a return on equity of 20.53% and a net margin of 11.38%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.63 billion. As a group, analysts forecast that Stryker Co. will post 6.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, September 29th. Stryker’s payout ratio is 27.85%.
Several equities research analysts recently commented on SYK shares. Oppenheimer reissued a “hold” rating and issued a $215.00 price target on shares of Stryker in a research note on Friday, July 31st. Northland Securities started coverage on Stryker in a research note on Tuesday, October 6th. They issued a “market perform” rating and a $225.00 price target for the company. Raymond James boosted their price target on Stryker from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Monday, October 12th. Wolfe Research started coverage on Stryker in a research note on Friday, September 11th. They issued a “market perform” rating and a $230.00 price target for the company. Finally, UBS Group boosted their price target on Stryker from $202.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Stryker presently has an average rating of “Buy” and an average price target of $219.50.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices that are used in various medical specialties.
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