CCG Wealth Management LLC Takes Position in Stryker Corporation $SYK

CCG Wealth Management LLC acquired a new stake in shares of Stryker Corporation (NYSE:SYK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 547 shares of the medical technology company’s stock, valued at approximately $216,000.

Several other institutional investors also recently made changes to their positions in the stock. Mitchell Sinkler & Starr PA grew its stake in shares of Stryker by 2.0% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 6,425 shares of the medical technology company’s stock valued at $2,542,000 after buying an additional 124 shares during the period. CWM LLC grew its stake in shares of Stryker by 1.6% during the 2nd quarter. CWM LLC now owns 17,652 shares of the medical technology company’s stock valued at $6,984,000 after buying an additional 282 shares during the period. OFI Invest Asset Management grew its stake in shares of Stryker by 37.4% during the 2nd quarter. OFI Invest Asset Management now owns 3,623 shares of the medical technology company’s stock valued at $1,433,000 after buying an additional 986 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Stryker by 21.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 52,869 shares of the medical technology company’s stock valued at $20,918,000 after buying an additional 9,436 shares during the period. Finally, Oak Ridge Investments LLC grew its stake in shares of Stryker by 1.3% during the 2nd quarter. Oak Ridge Investments LLC now owns 31,340 shares of the medical technology company’s stock valued at $12,399,000 after buying an additional 406 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on SYK shares. Wells Fargo & Company upped their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Rothschild Redb raised shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a research report on Wednesday. Finally, BTIG Research reaffirmed a “buy” rating on shares of Stryker in a research report on Monday, July 14th. 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 has an average rating of “Moderate Buy” and an average target price of $430.10.

Stryker Stock Performance

NYSE:SYK opened at $364.77 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a 50-day moving average of $380.25 and a two-hundred day moving average of $378.83. The stock has a market cap of $139.46 billion, a P/E ratio of 48.31, a PEG ratio of 2.63 and a beta of 0.94. 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 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 during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.84 dividend. 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 dividend payout ratio is 44.50%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 500 shares of the company’s 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 completion of the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker 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.