Aprio Wealth Management LLC Increases Position in Stryker Co. (NYSE:SYK)

Aprio Wealth Management LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 9.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,117 shares of the medical technology company’s stock after purchasing an additional 101 shares during the quarter. Aprio Wealth Management LLC’s holdings in Stryker were worth $341,000 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 SYK. Freedom Wealth Alliance LLC bought a new stake in Stryker in the fourth quarter worth $26,000. Quarry LP bought a new stake in Stryker in the first quarter worth $27,000. ST Germain D J Co. Inc. raised its holdings in Stryker by 6.6% in the fourth quarter. ST Germain D J Co. Inc. now owns 2,065 shares of the medical technology company’s stock worth $32,000 after buying an additional 127 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in Stryker in the first quarter worth about $33,000. Finally, Cascade Investment Advisors Inc. purchased a new position in Stryker in the first quarter worth about $34,000. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Stryker Stock Performance

NYSE SYK traded down $0.39 on Tuesday, reaching $292.83. 247,845 shares of the stock were exchanged, compared to its average volume of 1,294,394. Stryker Co. has a one year low of $200.80 and a one year high of $306.93. The firm has a market capitalization of $111.21 billion, a PE ratio of 41.42, a PEG ratio of 2.83 and a beta of 0.95. The company’s 50-day simple moving average is $286.90 and its two-hundred day simple moving average is $285.91. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. Stryker had a return on equity of 22.31% and a net margin of 13.92%. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the business posted $2.25 EPS. Stryker’s revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts expect that Stryker Co. will post 10.37 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 1.02%. Stryker’s payout ratio is 42.37%.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at approximately $2,021,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYK. BTIG Research lifted their target price on shares of Stryker from $313.00 to $331.00 in a report on Monday, July 17th. Morgan Stanley lifted their target price on Stryker from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Argus raised their price target on shares of Stryker from $285.00 to $310.00 in a report on Thursday, May 25th. Finally, Truist Financial boosted their price objective on shares of Stryker from $300.00 to $310.00 in a report on Wednesday, July 19th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $309.59.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.