Fortitude Advisory Group L.L.C. Trims Stock Position in Stryker Corporation $SYK

Fortitude Advisory Group L.L.C. lowered its holdings in shares of Stryker Corporation (NYSE:SYK) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 933 shares of the medical technology company’s stock after selling 135 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Stryker were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Marietta Wealth Management LLC grew its stake in shares of Stryker by 4.8% during the 2nd quarter. Marietta Wealth Management LLC now owns 12,889 shares of the medical technology company’s stock valued at $5,099,000 after acquiring an additional 585 shares during the period. Simplicity Wealth LLC bought a new position in shares of Stryker during the 2nd quarter valued at approximately $464,000. Brown Miller Wealth Management LLC grew its stake in shares of Stryker by 0.4% during the 2nd quarter. Brown Miller Wealth Management LLC now owns 7,416 shares of the medical technology company’s stock valued at $2,934,000 after acquiring an additional 29 shares during the period. OLD National Bancorp IN grew its stake in shares of Stryker by 3.2% during the 2nd quarter. OLD National Bancorp IN now owns 9,548 shares of the medical technology company’s stock valued at $3,777,000 after acquiring an additional 298 shares during the period. Finally, MBL Wealth LLC grew its stake in shares of Stryker by 9.6% during the 2nd quarter. MBL Wealth LLC now owns 1,173 shares of the medical technology company’s stock valued at $464,000 after acquiring an additional 103 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SYK shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research note on Saturday, September 27th. Wells Fargo & Company upped their price target on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Rothschild Redb raised shares of Stryker to a “hold” rating in a report on Thursday, September 18th. Rothschild & Co Redburn started coverage on shares of Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. Finally, BTIG Research reaffirmed a “buy” rating on shares of Stryker in a report on Monday, July 14th. Fifteen equities 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $430.33.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the firm’s 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 transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value 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 disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Stock Up 1.1%

NYSE SYK opened at $370.59 on Friday. The stock has a 50 day moving average price of $382.81 and a 200-day moving average price of $378.93. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a market capitalization of $141.68 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK) last released 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 company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the firm posted $2.81 EPS. Stryker’s quarterly revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

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.