Stryker Corporation $SYK Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its stake in shares of Stryker Corporation (NYSE:SYK) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,037 shares of the medical technology company’s stock after purchasing an additional 337 shares during the quarter. Wealthfront Advisers LLC’s holdings in Stryker were worth $14,653,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SYK. Nuveen LLC acquired a new position in shares of Stryker during the 1st quarter worth about $558,075,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after purchasing an additional 549,643 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYK. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Rothschild Redb raised Stryker to a “hold” rating in a report on Thursday, September 18th. Wells Fargo & Company boosted their target price on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Rothschild & Co Redburn began coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price for the company. Finally, UBS Group set a $408.00 target price on Stryker in a report on Monday, October 13th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $432.24.

Stryker Stock Down 0.3%

SYK opened at $381.86 on Monday. The business has a 50 day moving average price of $379.84 and a two-hundred day moving average price of $380.14. 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 company has a market cap of $145.99 billion, a PE ratio of 50.58, a P/E/G ratio of 2.75 and a beta of 0.94. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm 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 dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio is 44.50%.

Insider Buying and Selling

In other news, 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 transaction of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% 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.