Wesbanco Bank Inc. Has $9.90 Million Position in Stryker Co. (NYSE:SYK)

Wesbanco Bank Inc. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,496 shares of the medical technology company’s stock after purchasing an additional 1,324 shares during the quarter. Wesbanco Bank Inc.’s holdings in Stryker were worth $9,900,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dunhill Financial LLC raised its position in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker during the third quarter worth about $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the third quarter worth about $42,000. Finally, Hara Capital LLC bought a new position in shares of Stryker during the third quarter worth about $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays increased their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

NYSE:SYK opened at $390.31 on Thursday. The stock has a market cap of $148.79 billion, a P/E ratio of 41.83, a PEG ratio of 2.72 and a beta of 0.95. The stock has a 50 day simple moving average of $375.78 and a 200 day simple moving average of $359.94. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. Research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s payout ratio is currently 36.01%.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.90% of the company’s stock.

About Stryker

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.