Brady Family Wealth LLC Has $8.61 Million Holdings in Stryker Co. (NYSE:SYK)

Brady Family Wealth LLC raised its stake in Stryker Co. (NYSE:SYK) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,842 shares of the medical technology company’s stock after acquiring an additional 771 shares during the quarter. Stryker makes up approximately 2.6% of Brady Family Wealth LLC’s investment portfolio, making the stock its 6th largest position. Brady Family Wealth LLC’s holdings in Stryker were worth $8,613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swedbank AB increased its stake in shares of Stryker by 10.9% in the third quarter. Swedbank AB now owns 51,070 shares of the medical technology company’s stock valued at $18,450,000 after buying an additional 5,032 shares during the period. Zhang Financial LLC increased its stake in shares of Stryker by 1.6% in the third quarter. Zhang Financial LLC now owns 74,105 shares of the medical technology company’s stock valued at $26,771,000 after buying an additional 1,189 shares during the period. Allen Mooney & Barnes Investment Advisors LLC increased its stake in shares of Stryker by 13.5% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,535 shares of the medical technology company’s stock valued at $554,000 after buying an additional 182 shares during the period. Iams Wealth Management LLC increased its stake in shares of Stryker by 49.2% in the third quarter. Iams Wealth Management LLC now owns 1,095 shares of the medical technology company’s stock valued at $396,000 after buying an additional 361 shares during the period. Finally, Wesbanco Bank Inc. increased its stake in shares of Stryker by 5.7% in the third quarter. Wesbanco Bank Inc. now owns 26,172 shares of the medical technology company’s stock valued at $9,455,000 after buying an additional 1,401 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $358.98 on Wednesday. The company has a market cap of $136.80 billion, a P/E ratio of 40.02, a PEG ratio of 2.78 and a beta of 0.91. The company has a fifty day simple moving average of $353.45 and a 200 day simple moving average of $342.96. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63.

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

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio is presently 35.67%.

Analyst Ratings Changes

Several research analysts have recently issued reports on SYK shares. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. BTIG Research increased their target price on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC increased their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus decreased their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $381.16.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 over the last 90 days. Insiders own 5.50% of the company’s stock.

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.