Simplicity Wealth LLC Purchases New Stake in Stryker Corporation $SYK

Simplicity Wealth LLC purchased a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,172 shares of the medical technology company's stock, valued at approximately $464,000.

Several other hedge funds have also recently bought and sold shares of SYK. Brighton Jones LLC raised its holdings in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares during the period. Portside Wealth Group LLC raised its holdings in Stryker by 15.7% in the first quarter. Portside Wealth Group LLC now owns 789 shares of the medical technology company's stock valued at $294,000 after buying an additional 107 shares during the period. City Holding Co. grew its position in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Farther Finance Advisors LLC grew its position in Stryker by 7.9% in the first quarter. Farther Finance Advisors LLC now owns 6,799 shares of the medical technology company's stock valued at $2,538,000 after acquiring an additional 496 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Stryker in the first quarter valued at approximately $1,840,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider directly 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 sale 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 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 sale, the director owned 3,222,108 shares in the company, valued at approximately $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 insiders.

Stryker Stock Performance

Shares of SYK opened at $375.35 on Thursday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a market cap of $143.50 billion, a price-to-earnings ratio of 49.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The firm has a fifty day moving average of $380.99 and a 200-day moving average of $378.83.

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 (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $2.81 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Evercore ISI lowered their price objective on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research report on Tuesday. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stryker in a research report on Wednesday. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

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.

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