Hobart Private Capital LLC Invests $252,000 in Stryker Corporation $SYK

Hobart Private Capital LLC purchased a new position in shares of Stryker Corporation (NYSE:SYK) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 636 shares of the medical technology company’s stock, valued at approximately $252,000.

Several other large investors also recently made changes to their positions in SYK. Brighton Jones LLC lifted its position in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after purchasing an additional 609 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Stryker by 16.4% during the 1st quarter. GAMMA Investing LLC now owns 5,574 shares of the medical technology company’s stock worth $2,075,000 after purchasing an additional 785 shares during the last quarter. Spire Wealth Management lifted its position in shares of Stryker by 1.2% during the 1st quarter. Spire Wealth Management now owns 3,473 shares of the medical technology company’s stock worth $1,293,000 after purchasing an additional 42 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Stryker by 298.5% during the 1st quarter. Golden State Wealth Management LLC now owns 793 shares of the medical technology company’s stock worth $295,000 after purchasing an additional 594 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in shares of Stryker by 5.0% during the 1st quarter. HBK Sorce Advisory LLC now owns 847 shares of the medical technology company’s stock worth $315,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 500 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Stock Down 0.3%

NYSE SYK opened at $381.86 on Friday. The firm has a market cap of $145.99 billion, a PE ratio of 50.58, a price-to-earnings-growth ratio of 2.76 and a beta of 0.94. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The stock’s 50 day simple moving average is $379.84 and its 200 day simple moving average is $379.73. 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. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Wall Street Analyst Weigh In

SYK has been the subject of several recent research reports. BTIG Research upped their price target on Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a report on Monday, October 13th. Rothschild & Co Redburn began coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price for the company. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Truist Financial dropped their target price on Stryker from $415.00 to $407.00 and set a “hold” rating for the company in a report on Wednesday, October 15th. Finally, UBS Group set a $408.00 target price on Stryker in a report on Monday, October 13th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $432.24.

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.