Advance Capital Management Inc. Grows Stock Position in Stryker Corporation $SYK

Advance Capital Management Inc. raised its holdings in Stryker Corporation (NYSE:SYK) by 5.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,186 shares of the medical technology company’s stock after acquiring an additional 65 shares during the period. Advance Capital Management Inc.’s holdings in Stryker were worth $469,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Continuum Advisory LLC increased its position in Stryker by 5.8% during the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company’s stock worth $198,000 after purchasing an additional 29 shares during the last quarter. Oakworth Capital Inc. boosted its position in Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company’s stock worth $2,283,000 after purchasing an additional 29 shares during the period. Strategy Asset Managers LLC grew its stake in shares of Stryker by 1.4% in the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company’s stock valued at $794,000 after buying an additional 29 shares in the last quarter. Tritonpoint Wealth LLC grew its position in Stryker by 0.7% in the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company’s stock valued at $1,508,000 after acquiring an additional 30 shares in the last quarter. Finally, Monetary Management Group Inc. increased its stake in Stryker by 0.4% during the 1st quarter. Monetary Management Group Inc. now owns 7,668 shares of the medical technology company’s stock worth $2,854,000 after buying an additional 30 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYK. Truist Financial set a $415.00 price objective on Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Citigroup reiterated a “buy” rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. BTIG Research reiterated a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Needham & Company LLC boosted their price objective on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $431.42.

Stryker Stock Down 1.4%

Shares of SYK stock opened at $383.32 on Monday. Stryker Corporation has a 1 year low of $329.16 and a 1 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. The business’s fifty day moving average is $388.98 and its 200-day moving average is $379.50. The stock has a market cap of $146.55 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 2.76 and a beta of 0.93.

Stryker (NYSE:SYK) last announced its 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. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction 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 $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

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.