Stryker Corporation $SYK Shares Bought by Sax Wealth Advisors LLC

Key Points

• Sax Wealth Advisors LLC increased its stake in Stryker Corporation by 329.6% in Q2, owning 2,638 shares valued at over $1 million.
• Insider Viju Menon and Director Ronda E. Stryker made significant stock sales, with Ronda selling 200,000 shares for approximately $75 million.
• Stryker's recent quarterly earnings exceeded estimates, reporting $3.13 EPS and revenue of $6.02 billion, with a year-over-year revenue increase of 11.1%.

Sax Wealth Advisors LLC raised its position in Stryker Corporation (NYSE:SYK - Free Report) by 329.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,638 shares of the medical technology company's stock after purchasing an additional 2,024 shares during the period. Sax Wealth Advisors LLC's holdings in Stryker were worth $1,044,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SYK. Brighton Jones LLC grew 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 purchasing an additional 609 shares during the last quarter. Portside Wealth Group LLC lifted its position in shares of 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 acquiring an additional 107 shares in the last quarter. City Holding Co. lifted its position in shares of 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 lifted its position in shares of 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. purchased a new stake in shares of Stryker in the first quarter valued at $1,840,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity at Stryker

In related news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred 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 owned 3,222,108 shares of the company's stock, 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 corporate insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent research reports. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Redburn Partners set a $420.00 price objective on Stryker in a research report on Thursday, September 18th. Evercore ISI reduced their price objective on Stryker from $418.00 to $410.00 and set an "outperform" rating on the stock in a research report on Tuesday. Rothschild & Co Redburn assumed coverage on Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 target price on the stock. Finally, Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Stryker Stock Performance

SYK opened at $375.35 on Thursday. The company has a market cap of $143.50 billion, a PE ratio of 49.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The stock has a 50-day moving average of $380.99 and a 200-day moving average of $378.83. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. 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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