Janney Montgomery Scott LLC Increases Position in Stryker Corporation $SYK

Key Points

• Janney Montgomery Scott LLC increased its holdings in Stryker Corporation by 23.6% in Q2, bringing their total shares to 85,479, valued at approximately $33.8 million.
• Multiple institutional investors, including Venture Visionary Partners LLC and GC Wealth Management RIA LLC, have also raised their stakes in Stryker, indicating strong institutional confidence in the company.
• Stryker Corporation recently declared a quarterly dividend of $0.84, representing an annualized yield of 0.9%, with a payout ratio of 44.5%.

Janney Montgomery Scott LLC grew its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 23.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 85,479 shares of the medical technology company's stock after buying an additional 16,322 shares during the period. Janney Montgomery Scott LLC's holdings in Stryker were worth $33,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Venture Visionary Partners LLC raised its holdings in shares of Stryker by 21.7% in the second quarter. Venture Visionary Partners LLC now owns 5,199 shares of the medical technology company's stock valued at $2,057,000 after buying an additional 926 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in Stryker by 7.7% in the second quarter. Wolff Wiese Magana LLC now owns 1,243 shares of the medical technology company's stock valued at $492,000 after purchasing an additional 89 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in Stryker by 7.7% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 766 shares of the medical technology company's stock valued at $303,000 after purchasing an additional 55 shares during the period. GC Wealth Management RIA LLC lifted its position in Stryker by 269.6% in the second quarter. GC Wealth Management RIA LLC now owns 3,371 shares of the medical technology company's stock valued at $1,334,000 after purchasing an additional 2,459 shares during the period. Finally, Rempart Asset Management Inc. lifted its position in Stryker by 7.6% in the second quarter. Rempart Asset Management Inc. now owns 55,531 shares of the medical technology company's stock valued at $21,970,000 after purchasing an additional 3,942 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYK. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Needham & Company LLC upped their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Rothschild Redb raised Stryker to a "hold" rating in a report on Thursday, September 18th. Rothschild & Co Redburn assumed coverage on Stryker in a report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective on the stock. Finally, Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $430.33.

Insider Activity at Stryker

In other news, 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 value of $195,305.00. Following the sale, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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. 5.90% of the stock is owned by corporate insiders.

Stryker Trading Down 1.5%

Shares of Stryker stock opened at $364.07 on Thursday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a market cap of $139.19 billion, a PE ratio of 48.22, a price-to-earnings-growth ratio of 2.66 and a beta of 0.95. The company has a 50-day moving average of $384.08 and a two-hundred day moving average of $379.01.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) 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 company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same period last year, the company posted $2.81 earnings per share. The firm'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. On average, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. 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.

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