Kestra Advisory Services LLC Acquires 1,313 Shares of Stryker Corporation $SYK

Key Points

• Kestra Advisory Services LLC increased its stake in Stryker Corporation by 1.3%, now holding 100,409 shares valued at approximately $37.4 million.
• Stryker has recently seen support for its stock from several research firms, with price targets ranging from $415 to $450, and a consensus average target price of $430.10.
• In insider news, Director Ronda E. Stryker sold 200,000 shares for about $75.3 million, representing a 5.84% decrease in her position.

Kestra Advisory Services LLC lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,409 shares of the medical technology company's stock after purchasing an additional 1,313 shares during the period. Kestra Advisory Services LLC's holdings in Stryker were worth $37,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Capital A Wealth Management LLC acquired a new stake in shares of Stryker during the fourth quarter worth about $26,000. Goodman Advisory Group LLC bought a new stake in Stryker during the first quarter worth about $32,000. City Holding Co. boosted its holdings in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker in the 1st quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Stryker during the 4th quarter worth about $42,000. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SYK. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI increased their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.90% of the company's stock.

Stryker Stock Down 1.8%

SYK stock opened at $384.6550 on Friday. The stock's fifty day simple moving average is $387.17 and its two-hundred day simple moving average is $379.49. The stock has a market cap of $147.06 billion, a P/E ratio of 50.95, a P/E/G ratio of 2.85 and a beta of 0.91. Stryker Corporation has a 1-year low of $329.16 and a 1-year 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.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $5.92 billion. During the same period in the previous year, the firm posted $2.81 EPS. The firm'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. Analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed 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. 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 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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