NewEdge Wealth LLC Makes New Investment in Stryker Corporation $SYK

NewEdge Wealth LLC purchased a new position in shares of Stryker Corporation (NYSE:SYK) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 7,934 shares of the medical technology company’s stock, valued at approximately $2,498,000.

A number of other hedge funds have also recently modified their holdings of SYK. Varma Mutual Pension Insurance Co raised its stake in Stryker by 10.5% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company’s stock worth $18,842,000 after acquiring an additional 5,100 shares during the period. QRG Capital Management Inc. boosted its position in shares of Stryker by 7.4% in the fourth quarter. QRG Capital Management Inc. now owns 60,548 shares of the medical technology company’s stock worth $21,281,000 after purchasing an additional 4,186 shares during the period. Swedbank AB increased its stake in shares of Stryker by 6.6% in the fourth quarter. Swedbank AB now owns 129,027 shares of the medical technology company’s stock worth $45,349,000 after purchasing an additional 7,934 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Stryker by 31.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 26,820 shares of the medical technology company’s stock worth $9,426,000 after purchasing an additional 6,367 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Stryker by 6.5% during the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock valued at $1,075,552,000 after purchasing an additional 199,863 shares during the period. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. BTIG Research decreased their price target on Stryker from $371.00 to $358.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Citizens Jmp dropped their price objective on Stryker from $440.00 to $400.00 and set a “market outperform” rating for the company in a research note on Monday, August 3rd. Needham & Company LLC decreased their target price on Stryker from $454.00 to $418.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft set a $315.00 price target on Stryker in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average target price of $386.28.

Insider Buying and Selling at Stryker

In other news, VP Robert S. Fletcher sold 4,544 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the sale, the vice president directly owned 10,582 shares in the company, valued at approximately $3,247,298.34. This represents a 30.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the transaction, the director directly owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 665,370 shares of company stock worth $216,238,501 over the last 90 days. 4.60% of the stock is owned by insiders.

Stryker Stock Performance

NYSE SYK opened at $327.97 on Friday. The stock has a market capitalization of $125.80 billion, a PE ratio of 33.99, a P/E/G ratio of 2.17 and a beta of 0.76. The business has a 50 day simple moving average of $326.64 and a two-hundred day simple moving average of $332.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $396.86.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.20. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.58 billion. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, research analysts predict that Stryker Corporation will post 15.02 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 36.48%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.