Ritholtz Wealth Management Raises Stock Holdings in Stryker Corporation $SYK

Key Points

• Ritholtz Wealth Management increased its stake in Stryker Corporation by 21.4%, now holding 6,794 shares valued at approximately $2.69 million.
• Wall Street analysts have mixed views on Stryker, with target price adjustments ranging from $407 to $448, and a consensus rating of "Moderate Buy."
• Insider Ronda E. Stryker sold 200,000 shares of the company's stock for $75.29 million, which decreased her ownership by 5.84%.

Ritholtz Wealth Management grew its stake in Stryker Corporation (NYSE:SYK - Free Report) by 21.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,794 shares of the medical technology company's stock after buying an additional 1,196 shares during the quarter. Ritholtz Wealth Management's holdings in Stryker were worth $2,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sachetta LLC increased its position in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after buying an additional 27 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in Stryker in the first quarter worth about $32,000. Ridgewood Investments LLC increased its position in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after buying an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Stryker in the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the first quarter worth about $40,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SYK shares. Needham & Company LLC increased their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Evercore ISI cut their target price on Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. Truist Financial cut their target price on Stryker from $415.00 to $407.00 and set a "hold" rating for the company in a research report on Wednesday. Finally, Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $431.76.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 500 shares of the firm's 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 completion of the sale, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was 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 company insiders.

Stryker Price Performance

Shares of Stryker stock opened at $369.60 on Thursday. The stock has a 50 day moving average of $379.60 and a 200 day moving average of $378.78. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm has a market cap of $141.30 billion, a PE ratio of 48.95, a PEG ratio of 2.67 and a beta of 0.94. 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 announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the company earned $2.81 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

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