RMG Wealth Management LLC Takes $55,000 Position in Stryker Corporation $SYK

RMG Wealth Management LLC bought a new position in Stryker Corporation (NYSE:SYK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 142 shares of the medical technology company’s stock, valued at approximately $55,000.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a report on Saturday, September 27th. Evercore ISI cut their price target on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a report on Tuesday. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Truist Financial set a $415.00 price objective on shares of Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Finally, Rothschild & Co Redburn began coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $430.10.

Stryker Price Performance

Shares of SYK stock opened at $369.14 on Wednesday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. 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 firm’s 50 day moving average is $381.50 and its 200-day moving average is $378.86. The firm has a market capitalization of $141.12 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 2.64 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s payout ratio is currently 44.50%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction on Monday, August 25th. The stock was 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 $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

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.