Stryker Corporation $SYK Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. grew its position in shares of Stryker Corporation (NYSE:SYK) by 11.5% during the second quarter, HoldingsChannel reports. The firm owned 7,720 shares of the medical technology company’s stock after buying an additional 799 shares during the period. Wedbush Securities Inc.’s holdings in Stryker were worth $3,054,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker during the second quarter worth about $26,000. Sachetta LLC raised its position in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares in the last quarter. Ridgewood Investments LLC lifted its position in shares of Stryker by 48.4% in the 2nd 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 acquired a new position in Stryker in the first quarter valued at approximately $37,000. Finally, Solstein Capital LLC bought a new position in shares of Stryker during the second quarter valued at approximately $43,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK opened at $355.74 on Friday. The firm has a market capitalization of $136.04 billion, a PE ratio of 47.12, a P/E/G ratio of 2.66 and a beta of 0.94. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $374.63 and a 200 day moving average price of $380.99. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.87 EPS. 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 earnings per share for the current fiscal year.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 520,500 shares of company stock worth $184,803,065. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYK. Rothschild Redb upgraded Stryker to a “hold” rating in a research report on Thursday, September 18th. Truist Financial reissued a “hold” rating and set a $392.00 price target (down previously from $407.00) on shares of Stryker in a report on Monday, November 3rd. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target for the company. BTIG Research lifted their price objective on shares of Stryker from $408.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Barclays upped their target price on shares of Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $433.37.

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.