Riverpoint Wealth Management Holdings LLC Boosts Stock Position in Stryker Corporation $SYK

Riverpoint Wealth Management Holdings LLC raised its position in shares of Stryker Corporation (NYSE:SYK) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,283 shares of the medical technology company’s stock after purchasing an additional 59 shares during the quarter. Riverpoint Wealth Management Holdings LLC’s holdings in Stryker were worth $507,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Pegasus Asset Management Inc. boosted its stake in shares of Stryker by 5.8% in the second quarter. Pegasus Asset Management Inc. now owns 5,086 shares of the medical technology company’s stock worth $2,012,000 after buying an additional 278 shares during the last quarter. MGO One Seven LLC boosted its stake in shares of Stryker by 59.0% in the second quarter. MGO One Seven LLC now owns 4,973 shares of the medical technology company’s stock worth $1,968,000 after buying an additional 1,845 shares during the last quarter. Welch Group LLC boosted its stake in shares of Stryker by 4.7% in the second quarter. Welch Group LLC now owns 21,736 shares of the medical technology company’s stock worth $8,599,000 after buying an additional 973 shares during the last quarter. CCG Wealth Management LLC purchased a new stake in shares of Stryker in the second quarter worth about $216,000. Finally, Mitchell Sinkler & Starr PA raised its holdings in Stryker by 2.0% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 6,425 shares of the medical technology company’s stock worth $2,542,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of analyst reports. Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Rothschild & Co Redburn initiated coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned 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 a consensus price target of $430.10.

Insider Activity at Stryker

In related news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares of the company’s stock, valued at $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. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

SYK stock opened at $364.77 on Monday. 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 business has a 50 day simple moving average of $380.25 and a 200-day simple moving average of $378.90. The firm has a market capitalization of $139.45 billion, a PE ratio of 48.31, a price-to-earnings-growth 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 results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share 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 given 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 presently 44.50%.

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.