Family Legacy Financial Solutions LLC Makes New $4.28 Million Investment in Stryker Corporation $SYK

Key Points

• Family Legacy Financial Solutions LLC has acquired a new position in Stryker Corporation, buying 10,946 shares worth approximately $4.28 million, making it the firm’s 11th largest investment.
• Various large institutional investors have also increased their stakes in Stryker, with Vanguard Group Inc. acquiring additional shares and raising its stake by 1.1% during the 1st quarter.
• Stryker reported earnings of $3.13 per share for the last quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.84 per share to be paid on October 31st.

Family Legacy Financial Solutions LLC acquired a new position in Stryker Corporation (NYSE:SYK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,946 shares of the medical technology company's stock, valued at approximately $4,284,000. Stryker accounts for approximately 3.6% of Family Legacy Financial Solutions LLC's investment portfolio, making the stock its 11th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Vanguard Group Inc. boosted its holdings in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after acquiring an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 1,021,496 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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 purchasing 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% in the 1st 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 buying an additional 83,954 shares during the period. Finally, GAMMA Investing LLC increased its stake in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research analyst reports. Rothschild & Co Redburn started coverage on shares of Stryker in a research note on Thursday. They issued a "neutral" rating and a $420.00 target price on the stock. Rothschild Redb upgraded Stryker to a "hold" rating in a report on Thursday. Wells Fargo & Company lifted their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Evercore ISI increased their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $430.33.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of SYK stock traded down $1.23 on Friday, hitting $376.61. The company had a trading volume of 1,924,253 shares, compared to its average volume of 934,259. The firm has a market cap of $143.98 billion, a P/E ratio of 49.88, a price-to-earnings-growth ratio of 2.71 and a beta of 0.93. The company has a 50-day moving average price of $387.52 and a 200-day moving average price of $379.07. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm 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 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 44.50%.

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.