Rossby Financial LCC Has $122,000 Stock Holdings in Stryker Corporation $SYK

Rossby Financial LCC increased its holdings in shares of Stryker Corporation (NYSE:SYK) by 40.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 308 shares of the medical technology company’s stock after purchasing an additional 89 shares during the period. Rossby Financial LCC’s holdings in Stryker were worth $122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Mid American Wealth Advisory Group Inc. bought a new position in Stryker during the second quarter valued at about $26,000. Sachetta LLC increased its stake in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the period. Ridgewood Investments LLC increased its stake in Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after acquiring an additional 30 shares during the period. Ransom Advisory Ltd bought a new position in Stryker during the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Stryker during the first quarter valued at about $40,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial lowered their price target on Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Wells Fargo & Company lifted their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Evercore ISI decreased their price objective on Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Finally, Rothschild Redb raised Stryker to a “hold” rating in a report on Thursday, September 18th. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.24.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the stock in a transaction that occurred 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.20% of the stock is owned by corporate insiders.

Stryker Stock Down 2.0%

NYSE SYK opened at $376.11 on Wednesday. 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 stock’s 50 day moving average is $379.59 and its two-hundred day moving average is $380.49. The company has a market capitalization of $143.79 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.76 and a beta of 0.94. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

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

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 44.50%.

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.