Steward Partners Investment Advisory LLC Has $9.90 Million Holdings in Stryker Corporation $SYK

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Stryker Corporation by 17.1% during the first quarter, bringing its total holdings to 26,599 shares valued at approximately $9.9 million.
• Director Ronda E. Stryker sold 200,000 shares of the company, a 5.84% decrease in ownership, in a transaction worth over $75 million.
• Stryker reported a quarterly revenue of $6.02 billion and an earnings per share (EPS) of $3.13, surpassing analysts' expectations and reflecting an 11.1% year-over-year revenue increase.

Steward Partners Investment Advisory LLC lifted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,599 shares of the medical technology company's stock after buying an additional 3,883 shares during the period. Steward Partners Investment Advisory LLC's holdings in Stryker were worth $9,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SYK. Brighton Jones LLC boosted its position in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after buying an additional 609 shares during the period. Guggenheim Capital LLC boosted its position in shares of Stryker by 7.0% in the fourth quarter. Guggenheim Capital LLC now owns 7,579 shares of the medical technology company's stock worth $2,729,000 after buying an additional 499 shares during the period. Forum Financial Management LP boosted its position in shares of Stryker by 31.7% in the fourth quarter. Forum Financial Management LP now owns 2,455 shares of the medical technology company's stock worth $884,000 after buying an additional 591 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Stryker by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 828,303 shares of the medical technology company's stock worth $298,246,000 after buying an additional 18,897 shares during the period. Finally, Norinchukin Bank The raised its holdings in shares of Stryker by 8.8% during the fourth quarter. Norinchukin Bank The now owns 15,260 shares of the medical technology company's stock worth $5,494,000 after acquiring an additional 1,228 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SYK. Evercore ISI increased their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Truist Financial set a $415.00 price objective on Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company increased their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $430.10.

Stryker Price Performance

NYSE SYK traded up $2.0650 during trading on Wednesday, reaching $392.0050. 1,388,344 shares of the company traded hands, compared to its average volume of 1,382,405. 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 stock's 50 day moving average price is $386.87 and its two-hundred day moving average price is $379.45. The company has a market cap of $149.87 billion, a price-to-earnings ratio of 51.92, a P/E/G ratio of 2.83 and a beta of 0.91. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $6.02 billion for 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 company's quarterly revenue was up 11.1% on a year-over-year basis. During the same period 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. As a group, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company's stock.

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.