Crestwood Advisors Group LLC Lowers Stock Holdings in Stryker Corporation $SYK

Crestwood Advisors Group LLC decreased its position in shares of Stryker Corporation (NYSE:SYK) by 12.1% during the second quarter, Holdings Channel reports. The institutional investor owned 51,730 shares of the medical technology company’s stock after selling 7,136 shares during the period. Crestwood Advisors Group LLC’s holdings in Stryker were worth $20,466,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mar Vista Investment Partners LLC lifted its holdings in Stryker by 10.2% in the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock worth $33,572,000 after purchasing an additional 8,353 shares in the last quarter. United Services Automobile Association purchased a new stake in Stryker in the 1st quarter worth $2,857,000. AXS Investments LLC raised its holdings in shares of Stryker by 13.7% during the 1st quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company’s stock worth $3,286,000 after acquiring an additional 1,062 shares in the last quarter. Park Edge Advisors LLC purchased a new stake in shares of Stryker during the 2nd quarter worth approximately $679,000. Finally, Hendley & Co. Inc. raised its stake in Stryker by 60.3% during the second quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company’s stock valued at $5,546,000 after purchasing an additional 5,274 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SYK shares. Evercore ISI reduced their target price on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. UBS Group set a $408.00 price target on Stryker in a report on Monday, October 13th. BTIG Research increased their target price on Stryker from $408.00 to $410.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Truist Financial reiterated a “hold” rating and issued a $392.00 target price (down previously from $407.00) on shares of Stryker in a research note on Monday. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $433.37.

Insider Buying and Selling

In related news, insider Viju Menon sold 500 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

SYK stock opened at $362.74 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $138.68 billion, a PE ratio of 48.05, a P/E/G ratio of 2.66 and a beta of 0.94. The business’s fifty day moving average price is $376.79 and its 200 day moving average price is $381.24. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the prior year, the company earned $2.87 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a $0.84 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio is presently 44.15%.

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.