Axxcess Wealth Management LLC Acquires 570 Shares of Stryker Corporation $SYK

Axxcess Wealth Management LLC raised its holdings in shares of Stryker Corporation (NYSE:SYK) by 10.9% in the second quarter, HoldingsChannel.com reports. The firm owned 5,793 shares of the medical technology company’s stock after buying an additional 570 shares during the period. Axxcess Wealth Management LLC’s holdings in Stryker were worth $2,292,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYK. Nuveen LLC bought a new position in shares of Stryker during the first quarter valued at about $558,075,000. Price T Rowe Associates Inc. MD lifted its position in shares of Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after purchasing an additional 549,643 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after buying an additional 261,058 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.1%

Shares of SYK opened at $369.60 on Thursday. The business’s 50-day moving average price is $379.60 and its 200-day moving average price is $378.78. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The stock has a market cap of $141.30 billion, a PE ratio of 48.95, a P/E/G ratio of 2.67 and a beta of 0.94. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

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

Stryker Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on SYK. Needham & Company LLC boosted their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. BTIG Research boosted their price target on shares of Stryker from $407.00 to $408.00 and gave the stock a “buy” rating in a report on Monday. UBS Group set a $408.00 price target on shares of Stryker in a report on Monday. Rothschild & Co Redburn began coverage on shares of Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $431.76.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated 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 in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% 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.