Smith Salley Wealth Management Takes $2.05 Million Position in Stryker Corporation $SYK

Key Points

• Smith Salley Wealth Management acquired a new stake in Stryker Corporation during the 2nd quarter, purchasing 5,168 shares valued at approximately $2.05 million.
• Insider Ronda E. Stryker sold 200,000 shares at an average price of $376.45, totaling approximately $75.29 million, representing a 5.84% decrease in her holdings.
• Stryker recently reported $3.13 earnings per share for the last quarter, exceeding analysts' estimates, and set FY 2025 guidance between $13.400-$13.600 EPS.

Smith Salley Wealth Management bought a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,168 shares of the medical technology company's stock, valued at approximately $2,045,000.

Other hedge funds also recently modified their holdings of the company. Goodman Advisory Group LLC bought a new position in shares of Stryker in the 1st quarter valued at about $32,000. City Holding Co. raised its position 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 acquiring an additional 74 shares during the period. Ridgewood Investments LLC raised its position in shares of Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after acquiring an additional 30 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Stryker in the 1st quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker in the 1st quarter valued at approximately $40,000. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of SYK stock opened at $368.83 on Monday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company's fifty day simple moving average is $385.71 and its 200-day simple moving average is $379.18. The firm has a market cap of $141.01 billion, a PE ratio of 48.85, a P/E/G ratio of 2.66 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

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 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 business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the firm earned $2.81 earnings per share. The firm'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. Equities research analysts expect 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. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is presently 44.50%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SYK. BTIG Research reiterated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday. Rothschild Redb upgraded shares of Stryker to a "hold" rating in a research report on Thursday, September 18th. Evercore ISI increased their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

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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