Cornerstone Advisors LLC Grows Position in Stryker Corporation $SYK

Cornerstone Advisors LLC boosted its position in shares of Stryker Corporation (NYSE:SYK) by 81.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,400 shares of the medical technology company’s stock after purchasing an additional 15,000 shares during the period. Cornerstone Advisors LLC’s holdings in Stryker were worth $13,214,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SYK. Brighton Jones LLC raised its holdings in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after buying an additional 609 shares during the period. Edgestream Partners L.P. boosted its holdings in Stryker by 27.0% during the 1st quarter. Edgestream Partners L.P. now owns 893 shares of the medical technology company’s stock valued at $332,000 after acquiring an additional 190 shares during the period. Independent Wealth Network Inc. grew its position in Stryker by 5.0% in the 1st quarter. Independent Wealth Network Inc. now owns 711 shares of the medical technology company’s stock valued at $265,000 after acquiring an additional 34 shares during the last quarter. Creekmur Asset Management LLC increased its stake in Stryker by 3,637.5% in the first quarter. Creekmur Asset Management LLC now owns 598 shares of the medical technology company’s stock worth $223,000 after purchasing an additional 582 shares during the period. Finally, Diversify Advisory Services LLC purchased a new stake in Stryker in the first quarter worth $200,000. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $362.39 on Friday. The company has a market cap of $138.59 billion, a PE ratio of 48.00, a P/E/G ratio of 2.66 and a beta of 0.94. The firm’s 50 day moving average price is $371.96 and its 200-day moving average price is $381.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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 during 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 for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of the stock in a transaction dated 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 directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 520,500 shares of company stock valued at $184,803,065. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Truist Financial lifted their price objective on shares of Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a report on Friday. Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a research note on Monday, November 3rd. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Wells Fargo & Company boosted their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $434.37.

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.