Stryker Corporation $SYK Stock Position Raised by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC lifted its position in Stryker Corporation (NYSE:SYK) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,358 shares of the medical technology company’s stock after acquiring an additional 336 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Stryker were worth $1,724,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in SYK. Goodman Advisory Group LLC acquired a new position in Stryker in the 1st quarter valued at approximately $32,000. City Holding Co. increased its stake in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after buying an additional 74 shares during the period. Ridgewood Investments LLC increased its stake in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after buying an additional 30 shares during the period. Ransom Advisory Ltd acquired a new position in Stryker in the 1st quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Stryker in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $365.99 on Tuesday. 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 fifty day simple moving average of $382.13 and a 200 day simple moving average of $378.92. The company has a market cap of $139.92 billion, a P/E ratio of 48.48, a P/E/G ratio of 2.67 and a beta of 0.94. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 12.25% and a return on equity of 23.94%. Stryker’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio is currently 44.50%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 500 shares of the stock in a transaction 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 completion of the sale, 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. 5.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SYK shares. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Evercore ISI upped their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Rothschild & Co Redburn started coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target on the stock. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Redburn Partners set a $420.00 price target on shares of Stryker in a research note on Thursday, September 18th. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $430.33.

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.