Fifth Third Wealth Advisors LLC Raises Holdings in Stryker Corporation $SYK

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Stryker Corporation (NYSE:SYK) by 8.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,612 shares of the medical technology company’s stock after buying an additional 422 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Stryker were worth $2,220,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Bey Douglas LLC increased its holdings in Stryker by 39.4% during the second quarter. Bey Douglas LLC now owns 19,504 shares of the medical technology company’s stock valued at $7,716,000 after buying an additional 5,513 shares during the period. DSM Capital Partners LLC increased its holdings in Stryker by 19.9% during the second quarter. DSM Capital Partners LLC now owns 4,506 shares of the medical technology company’s stock valued at $1,783,000 after buying an additional 749 shares during the period. Cross Staff Investments Inc purchased a new position in Stryker during the second quarter valued at approximately $201,000. PDS Planning Inc increased its holdings in Stryker by 42.0% during the second quarter. PDS Planning Inc now owns 2,516 shares of the medical technology company’s stock valued at $996,000 after buying an additional 744 shares during the period. Finally, Cascade Investment Group Inc. increased its holdings in Stryker by 6.3% during the second quarter. Cascade Investment Group Inc. now owns 588 shares of the medical technology company’s stock valued at $233,000 after buying an additional 35 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 1.5%

NYSE:SYK opened at $364.77 on Friday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm has a fifty day simple moving average of $380.25 and a 200-day simple moving average of $378.83. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $139.46 billion, a P/E ratio of 48.31, a PEG ratio of 2.63 and a beta of 0.94.

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

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of Stryker stock in a transaction on 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 directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction 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 the firm’s stock in a transaction on 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 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. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SYK shares. Needham & Company LLC lifted their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Rothschild & Co Redburn started coverage on shares of Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a research note on Wednesday. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

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.