Geode Capital Management LLC Boosts Stock Position in Stryker Corporation $SYK

Geode Capital Management LLC raised its stake in Stryker Corporation (NYSE:SYK) by 1.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,393,611 shares of the medical technology company’s stock after acquiring an additional 79,654 shares during the period. Geode Capital Management LLC’s holdings in Stryker were worth $2,910,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Marble Harbor Investment Counsel LLC increased its stake in Stryker by 1.2% in the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 28,136 shares of the medical technology company’s stock valued at $11,131,000 after buying an additional 336 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Stryker by 1.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,050,602 shares of the medical technology company’s stock worth $415,650,000 after acquiring an additional 17,278 shares during the period. Wealth Alliance LLC raised its holdings in Stryker by 2.1% during the second quarter. Wealth Alliance LLC now owns 1,900 shares of the medical technology company’s stock worth $752,000 after purchasing an additional 39 shares in the last quarter. Forsta AP Fonden lifted its position in Stryker by 1.1% in the second quarter. Forsta AP Fonden now owns 91,153 shares of the medical technology company’s stock valued at $36,063,000 after purchasing an additional 1,000 shares during the period. Finally, Davidson Capital Management Inc. boosted its holdings in Stryker by 2.0% in the 2nd quarter. Davidson Capital Management Inc. now owns 8,731 shares of the medical technology company’s stock valued at $3,454,000 after purchasing an additional 168 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 520,500 shares of company stock worth $184,803,065 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $363.68 on Wednesday. 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 cap of $139.08 billion, a P/E ratio of 48.17, a PEG ratio of 2.66 and a beta of 0.94. The company has a 50-day moving average of $373.39 and a two-hundred day moving average of $381.33. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same period last year, the company posted $2.87 EPS. The company’s revenue was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYK. Barclays increased their target price on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Needham & Company LLC increased 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. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target for the company. Finally, BTIG Research boosted their price objective on shares of Stryker from $408.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $433.37.

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.