Shelton Wealth Management LLC Takes Position in Stryker Corporation $SYK

Key Points

• Shelton Wealth Management LLC has acquired 2,730 shares of Stryker Corporation (NYSE:SYK) valued at approximately $1,080,000.
• Stryker recently announced a quarterly dividend of $0.84, with a yield of 0.9%, set to be paid on October 31st.
• The company's latest earnings report revealed a profit of $3.13 per share and revenue of $6.02 billion, exceeding analysts' expectations.

Shelton Wealth Management LLC purchased a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,730 shares of the medical technology company's stock, valued at approximately $1,080,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. boosted its stake in Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Stryker during the 1st quarter worth $1,840,000. Mar Vista Investment Partners LLC boosted its stake in Stryker by 10.2% during the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after purchasing an additional 8,353 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in Stryker during the 1st quarter worth $2,857,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SYK shares. Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. Needham & Company LLC boosted their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price target on the stock. Finally, Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average price target of $430.33.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the stock in a transaction that occurred 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 transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

Stryker Stock Down 1.4%

Shares of SYK stock traded down $5.28 during trading hours on Tuesday, reaching $372.94. 983,699 shares of the stock were exchanged, compared to its average volume of 1,393,045. The business's fifty day moving average is $387.26 and its two-hundred day moving average is $379.05. 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 12-month low of $329.16 and a 12-month high of $406.19. The firm has a market capitalization of $142.58 billion, a P/E ratio of 49.33, a P/E/G ratio of 2.71 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping 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 net margin of 12.25% and a return on equity of 23.94%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared 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. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio is currently 44.50%.

Stryker 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.