Welch Group LLC Increases Position in Stryker Corporation $SYK

Welch Group LLC boosted its position in Stryker Corporation (NYSE:SYK) by 10.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,112 shares of the medical technology company’s stock after acquiring an additional 2,376 shares during the period. Welch Group LLC’s holdings in Stryker were worth $8,913,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker in the second quarter valued at $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker in the 2nd quarter worth about $28,000. Sachetta LLC grew its holdings in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares during the period. Kilter Group LLC purchased a new stake in Stryker in the 2nd quarter valued at about $29,000. Finally, Howard Hughes Medical Institute acquired a new position in shares of Stryker during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $356.50 on Tuesday. The firm’s fifty day simple moving average is $365.09 and its 200 day simple moving average is $377.26. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The firm has a market capitalization of $136.33 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 2.51 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s dividend payout ratio is presently 44.15%.

Analyst Ratings Changes

SYK has been the subject of a number of recent analyst reports. Truist Financial lowered their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $448.00 price target on shares of Stryker in a report on Friday, November 14th. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 15th. Finally, Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Sunday. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $431.84.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 522,118 shares of company stock worth $185,381,932 in the last 90 days. 5.20% of the stock is owned by company insiders.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.