Wesbanco Bank Inc. Decreases Holdings in Stryker Co. (SYK)

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Wesbanco Bank Inc. cut its holdings in shares of Stryker Co. (NYSE:SYK) by 3.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,075 shares of the medical technology company’s stock after selling 520 shares during the quarter. Wesbanco Bank Inc.’s holdings in Stryker were worth $2,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYK. Truewealth LLC acquired a new stake in Stryker during the 4th quarter worth about $110,000. Virtue Capital Management LLC acquired a new stake in Stryker during the 4th quarter worth about $133,000. Bruderman Asset Management LLC acquired a new stake in Stryker during the 1st quarter worth about $152,000. Ostrum Asset Management acquired a new stake in Stryker during the 1st quarter worth about $160,000. Finally, Private Capital Group LLC boosted its position in Stryker by 1,218.4% during the 1st quarter. Private Capital Group LLC now owns 1,002 shares of the medical technology company’s stock worth $162,000 after acquiring an additional 926 shares during the period. Hedge funds and other institutional investors own 74.91% of the company’s stock.

Shares of Stryker opened at $169.54 on Thursday, MarketBeat.com reports. The company has a current ratio of 1.64, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. Stryker Co. has a twelve month low of $137.70 and a twelve month high of $179.84. The company has a market capitalization of $63.43 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.42 and a beta of 0.71.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, April 26th. The medical technology company reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.08. Stryker had a return on equity of 25.65% and a net margin of 8.00%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the business earned $1.48 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. research analysts forecast that Stryker Co. will post 7.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, June 29th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, June 28th. Stryker’s payout ratio is 28.97%.

In related news, CFO Glenn S. Boehnlein sold 750 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $160.00, for a total value of $120,000.00. Following the transaction, the chief financial officer now directly owns 3,535 shares of the company’s stock, valued at approximately $565,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $166.42, for a total value of $832,100.00. Following the completion of the transaction, the insider now directly owns 101,675 shares in the company, valued at $16,920,753.50. The disclosure for this sale can be found here. Insiders sold a total of 8,504 shares of company stock worth $1,405,995 over the last three months. 7.40% of the stock is owned by company insiders.

A number of equities research analysts have commented on the company. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine lowered Stryker from a “buy” rating to a “hold” rating in a research report on Tuesday, June 12th. Citigroup raised their price objective on Stryker from $166.00 to $171.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a research report on Friday, April 27th. Finally, Stifel Nicolaus raised their price objective on Stryker from $183.00 to $187.00 and gave the stock a “buy” rating in a research report on Friday, April 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $171.70.

About Stryker

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 for use in various medical specialties.

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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