1858 Wealth Management LLC Acquires 39 Shares of Stryker Corporation $SYK

1858 Wealth Management LLC raised its holdings in Stryker Corporation (NYSE:SYK) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 578 shares of the medical technology company’s stock after buying an additional 39 shares during the quarter. 1858 Wealth Management LLC’s holdings in Stryker were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Brighton Jones LLC increased its holdings in Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the period. GAMMA Investing LLC increased its holdings in Stryker by 16.4% in the 1st quarter. GAMMA Investing LLC now owns 5,574 shares of the medical technology company’s stock valued at $2,075,000 after buying an additional 785 shares during the period. Assenagon Asset Management S.A. increased its holdings in Stryker by 1.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,375 shares of the medical technology company’s stock valued at $3,862,000 after buying an additional 110 shares during the period. Focus Financial Network Inc. bought a new stake in shares of Stryker in the 1st quarter worth about $214,000. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Stryker by 4.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 5,710 shares of the medical technology company’s stock worth $2,126,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SYK shares. Rothschild & Co Redburn started coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a report on Wednesday. Rothschild Redb raised shares of Stryker to a “hold” rating in a report on Thursday, September 18th. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

Stryker Stock Down 1.5%

Shares of NYSE SYK opened at $364.77 on Friday. The firm’s 50-day simple moving average is $380.25 and its 200 day simple moving average is $378.83. The company has a market cap of $139.46 billion, a price-to-earnings ratio of 48.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.94. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

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

Stryker Dividend Announcement

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

Insider Activity

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

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.