Ashton Thomas Private Wealth LLC Buys 1,962 Shares of Stryker Corporation $SYK

Ashton Thomas Private Wealth LLC boosted its stake in Stryker Corporation (NYSE:SYK) by 9.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 23,214 shares of the medical technology company’s stock after acquiring an additional 1,962 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Stryker were worth $9,204,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new stake in Stryker in the 2nd quarter valued at $26,000. Sachetta LLC lifted its position in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in Stryker in the 1st quarter valued at $32,000. Ridgewood Investments LLC grew its position in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 30 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Stryker in the 1st quarter valued at $37,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Shares of SYK opened at $381.86 on Monday. The firm has a 50-day moving average of $379.84 and a 200-day moving average of $380.14. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a market cap of $145.99 billion, a PE ratio of 50.58, a price-to-earnings-growth ratio of 2.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the firm posted $2.81 EPS. The company’s quarterly revenue 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 analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SYK shares. UBS Group set a $408.00 price target on shares of Stryker in a research note on Monday, October 13th. Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Truist Financial lowered their price target on shares of Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. BTIG Research lifted their price target on shares of Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Redburn Partners set a $420.00 price target on shares of Stryker in a research note on Thursday, September 18th. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $432.24.

Insider Activity

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Stryker 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.