Keudell Morrison Wealth Management Reduces Stock Holdings in Stryker Corporation $SYK

Keudell Morrison Wealth Management decreased its holdings in Stryker Corporation (NYSE:SYK) by 0.5% in the second quarter, HoldingsChannel.com reports. The fund owned 6,086 shares of the medical technology company’s stock after selling 29 shares during the period. Keudell Morrison Wealth Management’s holdings in Stryker were worth $2,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. lifted its position in Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock valued at $36,561,000 after buying an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. lifted its position in Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock valued at $65,096,000 after buying an additional 3,341 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Stryker during the first quarter valued at $1,840,000. Mar Vista Investment Partners LLC lifted its position in Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock valued at $33,572,000 after buying an additional 8,353 shares during the period. Finally, United Services Automobile Association purchased a new position in Stryker during the first quarter valued at $2,857,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the business’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 completion of the sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business’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 of the company’s stock, 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. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $370.59 on Friday. The stock has a 50-day moving average of $382.81 and a 200 day moving average of $378.93. The company has a market capitalization of $141.68 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 2.67 and a beta of 0.94. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SYK shares. Needham & Company LLC raised their price target on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. Rothschild Redb upgraded Stryker to a “hold” rating in a report on Thursday, September 18th. Truist Financial set a $415.00 price target on Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Finally, Rothschild & Co Redburn started coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target for the company. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.33.

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.