Broadway Wealth Solutions Inc. Buys New Shares in Stryker Corporation $SYK

Key Points

• Broadway Wealth Solutions Inc. acquired 705 shares of Stryker Corporation, valued at approximately $279,000, in the 2nd quarter, as revealed in its 13F filing.
• Stryker reported a $3.13 EPS in its latest earnings, exceeding analyst expectations, with quarterly revenue of $6.02 billion, a year-over-year increase of 11.1%.
• The company announced a quarterly dividend of $0.84 per share, with a dividend payout ratio of 44.50%, highlighting its commitment to returning value to shareholders.

Broadway Wealth Solutions Inc. purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 705 shares of the medical technology company's stock, valued at approximately $279,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after acquiring an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after acquiring an additional 1,021,496 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after acquiring an additional 261,058 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Stryker by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock worth $776,871,000 after acquiring an additional 83,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Stryker by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock worth $750,223,000 after acquiring an additional 30,329 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 0.1%

Shares of SYK opened at $369.44 on Wednesday. The company has a market capitalization of $141.24 billion, a P/E ratio of 48.93, a P/E/G ratio of 2.67 and a beta of 0.93. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a 50-day moving average price of $384.81 and a 200 day moving average price of $379.11.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the business posted $2.81 EPS. Stryker's quarterly revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

SYK has been the subject of several research analyst reports. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Wells Fargo & Company upped their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Rothschild Redb raised Stryker to a "hold" rating in a research report on Thursday, September 18th. Redburn Partners set a $420.00 target price on Stryker in a research report on Thursday, September 18th. Finally, Rothschild & Co Redburn started coverage on Stryker in a research report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $430.33.

Insider Buying and Selling

In other 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 approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.20% 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.

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