Kingsview Wealth Management LLC Invests $5.88 Million in Stryker Corporation $SYK

Kingsview Wealth Management LLC purchased a new stake in shares of Stryker Corporation (NYSE:SYK) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 18,669 shares of the medical technology company’s stock, valued at approximately $5,878,000.

Several other hedge funds also recently modified their holdings of SYK. Beacon Pointe Advisors LLC bought a new position in shares of Stryker during the 2nd quarter valued at $12,838,000. Pin Oak Investment Advisors Inc. bought a new stake in Stryker in the second quarter worth $63,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Stryker in the second quarter worth $794,000. Rakuten Investment Management Inc. acquired a new position in Stryker during the second quarter worth $18,646,000. Finally, Glenview Trust Co acquired a new position in Stryker during the second quarter worth $1,412,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 2.9%

SYK stock opened at $331.32 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. Stryker Corporation has a 52-week low of $281.00 and a 52-week high of $396.86. The company has a 50-day moving average of $329.10 and a two-hundred day moving average of $331.47. The stock has a market capitalization of $127.08 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the company posted $3.13 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, equities research analysts anticipate that Stryker Corporation will post 15.02 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker’s payout ratio is currently 36.48%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of analyst reports. Needham & Company LLC reduced their price target on Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Piper Sandler lowered their price objective on Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Wolfe Research downgraded Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. Citigroup restated a “buy” rating on shares of Stryker in a report on Thursday, August 13th. Finally, BMO Capital Markets began coverage on Stryker in a research report on Wednesday, July 8th. They set an “outperform” rating and a $369.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $386.28.

Insiders Place Their Bets

In other news, insider Dylan Bram Crotty sold 441 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the sale, the insider owned 6,102 shares in the company, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Debra King sold 826 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the transaction, the insider directly owned 6,210 shares in the company, valued at $2,088,423. This trade represents a 11.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 351,267 shares of company stock valued at $118,197,701 in the last three months. Company insiders own 4.60% of the company’s stock.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.