My Legacy Advisors LLC Takes $538,000 Position in Stryker Corporation $SYK

Key Points

• My Legacy Advisors LLC acquired 1,363 shares of Stryker Corporation, valued at approximately $538,000, during the 2nd quarter of the year.
• Stryker reported earnings of $3.13 per share for the last quarter, exceeding expectations, and forecasted a FY 2025 EPS range of 13.400-13.600.
• The company declared a new quarterly dividend of $0.84 per share, with an annualized yield of 0.9%, payable on October 31st to shareholders of record.

My Legacy Advisors LLC bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,363 shares of the medical technology company's stock, valued at approximately $538,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 buying an additional 1,021,496 shares during the last quarter. Goldman Sachs Group Inc. grew its stake 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 buying an additional 261,058 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 buying an additional 83,954 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 500 shares of the business's stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction 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 owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SYK has been the topic of several analyst reports. Evercore ISI boosted their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a research note on Thursday. They issued a "neutral" rating and a $420.00 price objective on the stock. Rothschild Redb raised shares of Stryker to a "hold" rating in a research note on Thursday. Redburn Partners set a $420.00 price objective on shares of Stryker in a research note on Thursday. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

Stryker Trading Down 0.3%

SYK stock traded down $1.23 during midday trading on Friday, hitting $376.61. The stock 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 current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The business has a fifty day moving average price of $387.52 and a two-hundred day moving average price of $379.07.

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 (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's payout ratio is presently 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.