Concurrent Investment Advisors LLC Buys 750 Shares of Stryker Corporation $SYK

Concurrent Investment Advisors LLC lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,626 shares of the medical technology company’s stock after purchasing an additional 750 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Stryker were worth $6,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mar Vista Investment Partners LLC raised its stake in shares of Stryker by 10.2% during the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock valued at $33,572,000 after purchasing an additional 8,353 shares during the period. United Services Automobile Association bought a new stake in shares of Stryker during the 1st quarter valued at $2,857,000. AXS Investments LLC raised its stake in shares of Stryker by 13.7% during the 1st quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company’s stock valued at $3,286,000 after purchasing an additional 1,062 shares during the period. Park Edge Advisors LLC bought a new stake in shares of Stryker during the 2nd quarter valued at $679,000. Finally, Focus Partners Wealth raised its stake in shares of Stryker by 1.7% during the 1st quarter. Focus Partners Wealth now owns 130,156 shares of the medical technology company’s stock valued at $48,451,000 after purchasing an additional 2,167 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research note on Wednesday, October 8th. Truist Financial set a $415.00 target price on Stryker and gave the stock a “hold” rating in a research note on Monday, August 4th. Needham & Company LLC upped their target price on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Wells Fargo & Company upped their target price on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Rothschild & Co Redburn initiated coverage on Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 500 shares of the 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. This represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the 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 $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. 5.90% of the stock is currently owned by corporate insiders.

Stryker Price Performance

SYK opened at $364.77 on Monday. The stock has a 50-day moving average price of $380.25 and a 200-day moving average price of $378.90. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $139.45 billion, a P/E ratio of 48.31, a PEG ratio of 2.63 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the prior year, the business earned $2.81 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. 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 dividend payout ratio 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.