Apollon Wealth Management LLC Grows Position in Stryker Corporation $SYK

Key Points

• Apollon Wealth Management LLC increased its stake in Stryker Corporation by 8.6%, owning 25,462 shares valued at $10,073,000 as of the latest SEC filing.
• Stryker Corporation announced a quarterly dividend of $0.84, set to be paid on October 31st, which reflects an annualized yield of 0.9%.
• Wall Street analysts have a consensus rating of Moderate Buy for Stryker's shares, with an average price target of $430.10, highlighting anticipated growth for the company.

Apollon Wealth Management LLC boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,462 shares of the medical technology company's stock after purchasing an additional 2,015 shares during the period. Apollon Wealth Management LLC's holdings in Stryker were worth $10,073,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Stryker by 16.4% during the 1st quarter. GAMMA Investing LLC now owns 5,574 shares of the medical technology company's stock valued at $2,075,000 after acquiring an additional 785 shares during the period. Integrated Advisors Network LLC grew its position in Stryker by 10.7% in the 1st quarter. Integrated Advisors Network LLC now owns 3,781 shares of the medical technology company's stock valued at $1,407,000 after acquiring an additional 366 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Stryker by 1.1% in the first quarter. Assenagon Asset Management S.A. now owns 10,375 shares of the medical technology company's stock worth $3,862,000 after purchasing an additional 110 shares during the period. Finally, Focus Financial Network Inc. bought a new stake in shares of Stryker during the first quarter worth $214,000. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

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 transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 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. Insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of SYK stock opened at $364.77 on Friday. The firm has a market cap of $139.46 billion, a price-to-earnings ratio of 48.31, a PEG ratio of 2.67 and a beta of 0.94. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company's 50 day moving average is $380.25 and its 200 day moving average is $378.75.

Stryker (NYSE:SYK - Get Free Report) last posted 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 company had revenue of $6.02 billion during 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%.Stryker's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced 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 payout ratio is 44.50%.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research analyst reports. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Needham & Company LLC upped their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stryker in a research report on Wednesday. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $430.10.

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.

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