Freestone Capital Holdings LLC Grows Stock Position in Stryker Corporation $SYK

Freestone Capital Holdings LLC lifted its stake in Stryker Corporation (NYSE:SYK) by 32.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 751 shares of the medical technology company’s stock after buying an additional 186 shares during the period. Freestone Capital Holdings LLC’s holdings in Stryker were worth $297,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SYK. Nuveen LLC purchased a new position in shares of Stryker in the first quarter worth about $558,075,000. Price T Rowe Associates Inc. MD increased its holdings in Stryker by 9.2% during 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 period. Alliancebernstein L.P. increased its holdings in Stryker by 66.7% during 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 period. Vanguard Group Inc. increased its holdings in Stryker by 1.1% during 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 period. Finally, Goldman Sachs Group Inc. increased its holdings in Stryker by 13.1% during 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 period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 1.3%

SYK stock opened at $362.74 on Wednesday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business’s 50 day moving average price is $376.79 and its two-hundred day moving average price is $381.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market capitalization of $138.68 billion, a price-to-earnings ratio of 48.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its earnings results 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 firm 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 business earned $2.87 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the business’s 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 sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial restated a “hold” rating and set a $392.00 price target (down previously from $407.00) on shares of Stryker in a report on Monday. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Rothschild & Co Redburn began coverage on shares of Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target on the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of Stryker in a research report on Monday. Finally, Barclays boosted their price target on shares of Stryker from $443.00 to $453.00 and gave the company 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 assigned a Hold rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price 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.