FineMark National Bank & Trust Grows Stake in Stryker Corporation $SYK

FineMark National Bank & Trust increased its stake in Stryker Corporation (NYSE:SYK) by 17.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,846 shares of the medical technology company’s stock after buying an additional 723 shares during the quarter. FineMark National Bank & Trust’s holdings in Stryker were worth $1,917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Stryker in the second quarter valued at approximately $26,000. Sachetta LLC boosted its stake in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the period. Ridgewood Investments LLC grew its holdings in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Stryker during the 1st quarter worth $37,000. Finally, MTM Investment Management LLC acquired a new position in Stryker in the 2nd quarter worth $38,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE SYK opened at $364.39 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $370.25 and its two-hundred day moving average price is $380.91. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The stock has a market capitalization of $139.35 billion, a P/E ratio of 48.26, a P/E/G ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SYK shares. Barclays lifted their target price on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. UBS Group set a $408.00 target price on Stryker in a research report on Monday, October 13th. Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Truist Financial upped their price target on shares of Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a report on Friday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $448.00 price objective on shares of Stryker in a research note on Friday, November 14th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $434.37.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares in the company, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the sale, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. The trade was a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 522,453 shares of company stock valued at $185,516,867 over the last three months. Company insiders own 5.90% of the company’s stock.

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.