Linscomb Wealth Inc. Grows Position in Stryker Corporation $SYK

Linscomb Wealth Inc. increased its holdings in Stryker Corporation (NYSE:SYK) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,340 shares of the medical technology company’s stock after acquiring an additional 456 shares during the quarter. Linscomb Wealth Inc.’s holdings in Stryker were worth $6,465,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have commented on SYK. UBS Group set a $408.00 price target on shares of Stryker in a research report on Monday, October 13th. Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Finally, Barclays upped their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $434.32.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the firm’s 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 sale, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s 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 sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The SEC filing for this sale provides additional information. 5.90% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $369.31 on Friday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company’s 50 day moving average is $378.83 and its 200 day moving average is $380.54. 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 cap of $141.19 billion, a PE ratio of 48.92, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the prior year, the company earned $2.87 EPS. Stryker’s quarterly 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 forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared 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 44.50%.

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.