Brown Miller Wealth Management LLC Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Brown Miller Wealth Management LLC boosted its position in Stryker Co. (NYSE:SYK) by 1.3% in the third quarter, Holdings Channel.com reports. The firm owned 6,988 shares of the medical technology company’s stock after buying an additional 92 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Stryker were worth $2,524,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SYK. Sanibel Captiva Trust Company Inc. purchased a new position in shares of Stryker during the 4th quarter valued at about $17,621,000. D L Carlson Investment Group Inc. purchased a new stake in shares of Stryker in the 4th quarter worth $3,251,000. GLOBALT Investments LLC GA bought a new position in shares of Stryker in the 4th quarter worth $4,620,000. Novak & Powell Financial Services Inc. acquired a new position in Stryker during the 4th quarter valued at about $299,000. Finally, V Square Quantitative Management LLC increased its position in Stryker by 93.7% during the 4th quarter. V Square Quantitative Management LLC now owns 3,287 shares of the medical technology company’s stock valued at $984,000 after buying an additional 1,590 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.6 %

Shares of SYK stock traded up $2.23 on Friday, hitting $355.60. The company’s stock had a trading volume of 787,931 shares, compared to its average volume of 985,736. 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 $374.63. The firm’s fifty day moving average price is $351.84 and its 200-day moving average price is $343.10. The stock has a market capitalization of $135.51 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. Research analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 35.67%.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price target on shares of Stryker in a report on Tuesday, September 10th. Finally, BTIG Research raised their target price on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $379.37.

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.