New York Life Investment Management LLC Has $20.42 Million Stake in Stryker Corporation $SYK

New York Life Investment Management LLC boosted its stake in Stryker Corporation (NYSE:SYK) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,608 shares of the medical technology company’s stock after purchasing an additional 785 shares during the period. New York Life Investment Management LLC’s holdings in Stryker were worth $20,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Stryker in the second quarter valued at $26,000. Sachetta LLC increased its holdings in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the period. Ridgewood Investments LLC increased its holdings 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 during the period. Ransom Advisory Ltd bought a new stake in Stryker during the first quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the first quarter valued at $40,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

SYK stock opened at $383.56 on Tuesday. The stock has a market capitalization of $146.64 billion, a PE ratio of 50.80, a price-to-earnings-growth ratio of 2.75 and a beta of 0.94. The company’s 50-day moving average is $379.87 and its 200-day moving average is $380.29. 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 Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the firm earned $2.81 EPS. The firm’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. Equities research analysts expect that Stryker Corporation will post 13.47 EPS 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 paid a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is 44.50%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Wells Fargo & Company upped their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a research report on Wednesday, October 8th. Truist Financial cut their price target on shares of Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research report on Wednesday, October 15th. Finally, Rothschild Redb raised shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $432.24.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of the 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 completion of the sale, the insider 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 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 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 sale, the director 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. Company insiders own 5.90% of the company’s stock.

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.