Angeles Wealth Management LLC Acquires 221 Shares of Stryker Corporation $SYK

Angeles Wealth Management LLC boosted its holdings in Stryker Corporation (NYSE:SYK) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,523 shares of the medical technology company’s stock after acquiring an additional 221 shares during the quarter. Angeles Wealth Management LLC’s holdings in Stryker were worth $603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Sachetta LLC increased its stake in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the period. Goodman Advisory Group LLC bought a new stake in Stryker during the first quarter worth about $32,000. Ridgewood Investments LLC grew its stake in Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after buying an additional 30 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Stryker during the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the first quarter worth about $40,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, 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 transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the stock in a transaction that occurred 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 owned 12,511 shares in the company, 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. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK stock opened at $374.67 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm’s 50 day moving average is $379.40 and its 200-day moving average is $378.77. The firm has a market capitalization of $143.24 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 2.66 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the business posted $2.81 earnings per share. Stryker’s revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued 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 dividend payout ratio is currently 44.50%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SYK shares. Evercore ISI decreased their price objective on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Rothschild Redb raised shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a research note on Wednesday, October 8th. Truist Financial reduced their target price on shares of Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, UBS Group set a $408.00 target price on shares of Stryker in a research report on Monday. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $431.76.

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.