Stryker Corporation $SYK Shares Acquired by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lifted its position in shares of Stryker Corporation (NYSE:SYK) by 113.0% during the second quarter, HoldingsChannel reports. The fund owned 2,590 shares of the medical technology company’s stock after acquiring an additional 1,374 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Stryker were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Nuveen LLC acquired a new position in Stryker during the first quarter worth about $558,075,000. Price T Rowe Associates Inc. MD grew its position in Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after buying an additional 1,021,496 shares during the period. Alliancebernstein L.P. grew its position in Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock worth $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. grew its position in Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after buying an additional 261,058 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the topic of several recent analyst reports. BTIG Research restated a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. 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. Evercore ISI lowered their price target on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Needham & Company LLC increased their price target 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. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $430.10.

Stryker Stock Performance

Shares of SYK opened at $369.14 on Wednesday. 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 company has a market capitalization of $141.12 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 2.64 and a beta of 0.94. The company’s 50 day simple moving average is $381.50 and its 200 day simple moving average is $378.86. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping 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 net margin of 12.25% and a return on equity of 23.94%. Stryker’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 dividend payout ratio (DPR) is presently 44.50%.

Insiders Place Their Bets

In related news, 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 sale, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

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.