Dakota Wealth Management Acquires 2,810 Shares of Stryker Corporation $SYK

Key Points

• Dakota Wealth Management increased its holdings in Stryker Corporation by 9.8%, acquiring an additional 2,810 shares, resulting in a total of 31,408 shares valued at $12.43 million.
• Multiple research firms have upgraded Stryker's stock ratings, with an average consensus rating of "Moderate Buy" and a target price of $430.33.
• Director Ronda E. Stryker sold 200,000 shares worth approximately $75.29 million, reducing her ownership by 5.84%, while 5.90% of the stock is held by corporate insiders.

Dakota Wealth Management increased its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,408 shares of the medical technology company's stock after purchasing an additional 2,810 shares during the quarter. Dakota Wealth Management's holdings in Stryker were worth $12,430,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SYK. Goodman Advisory Group LLC acquired a new position in shares of Stryker during the first quarter valued at about $32,000. City Holding Co. raised its holdings in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Ridgewood Investments LLC raised its holdings in shares of 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 purchasing an additional 30 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Stryker during the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker during the first quarter valued at about $40,000. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYK. Rothschild Redb upgraded shares of Stryker to a "hold" rating in a report on Thursday, September 18th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Redburn Partners set a $420.00 target price on shares of Stryker in a report on Thursday, September 18th. Evercore ISI upped their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and a consensus 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 shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares of the company's stock, 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 shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company's stock, 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. 5.90% of the stock is owned by corporate insiders.

Stryker Trading Down 0.7%

NYSE:SYK opened at $370.92 on Thursday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The firm has a 50-day moving average price of $386.51 and a two-hundred day moving average price of $378.95. The firm has a market cap of $141.81 billion, a price-to-earnings ratio of 49.13, a price-to-earnings-growth ratio of 2.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

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, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the prior year, the firm earned $2.81 EPS. The company's 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. On average, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

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