Concurrent Investment Advisors LLC Raises Holdings in Stryker Corporation $SYK

Concurrent Investment Advisors LLC boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,626 shares of the medical technology company’s stock after acquiring an additional 750 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Stryker were worth $6,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Sachetta LLC lifted its holdings in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after buying an additional 27 shares during the period. Goodman Advisory Group LLC purchased a new stake in Stryker in the 1st quarter worth approximately $32,000. Ridgewood Investments LLC lifted its holdings in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after buying an additional 30 shares during the period. Ransom Advisory Ltd purchased a new stake in Stryker in the 1st quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the 1st quarter worth approximately $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SYK shares. Wells Fargo & Company increased their price objective on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Evercore ISI dropped their price objective on Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. Finally, Needham & Company LLC increased their target price on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $430.10.

Insider Buying and Selling

In related news, insider Viju Menon sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Stock Down 1.5%

Shares of NYSE:SYK opened at $364.77 on Monday. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The firm has a market capitalization of $139.45 billion, a P/E ratio of 48.31, a P/E/G ratio of 2.63 and a beta of 0.94. The stock has a 50 day moving average price of $380.25 and a 200-day moving average price of $378.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the company earned $2.81 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is 44.50%.

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.