Revolve Wealth Partners LLC bought a new stake in Stryker Corporation (NYSE:SYK – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 506 shares of the medical technology company’s stock, valued at approximately $200,000.
A number of other institutional investors and hedge funds also recently modified their holdings of SYK. NorthRock Partners LLC raised its holdings in Stryker by 0.3% in the 2nd quarter. NorthRock Partners LLC now owns 15,986 shares of the medical technology company’s stock valued at $6,324,000 after acquiring an additional 41 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Stryker by 8.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,185 shares of the medical technology company’s stock valued at $4,425,000 after acquiring an additional 899 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Stryker by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 29,725 shares of the medical technology company’s stock valued at $11,760,000 after acquiring an additional 200 shares during the period. Concord Asset Management LLC VA bought a new position in Stryker in the 2nd quarter valued at about $382,000. Finally, Sequoia Financial Advisors LLC raised its holdings in Stryker by 4.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,962 shares of the medical technology company’s stock valued at $5,128,000 after acquiring an additional 572 shares during the period. 77.09% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 $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 SEC, which is available through this link. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction that occurred 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 owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.
Stryker Stock Performance
Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion for 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%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal 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 paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is 44.50%.
Wall Street Analysts Forecast Growth
SYK has been the topic of several research analyst reports. UBS Group set a $408.00 price target on shares of Stryker in a report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a “hold” rating in a research report on Monday, August 4th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $432.14.
Get Our Latest Stock Analysis on Stryker
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.
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