Wealth Watch Advisors INC Boosts Stock Position in Stryker Corporation $SYK

Wealth Watch Advisors INC raised its position in shares of Stryker Corporation (NYSE:SYK) by 94.4% during the 2nd quarter, Holdings Channel reports. The firm owned 6,453 shares of the medical technology company’s stock after buying an additional 3,134 shares during the quarter. Stryker comprises 1.5% of Wealth Watch Advisors INC’s portfolio, making the stock its 14th largest holding. Wealth Watch Advisors INC’s holdings in Stryker were worth $2,553,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker during the 2nd quarter valued at about $26,000. Sachetta LLC grew its stake in Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in Stryker during the 1st quarter valued at about $32,000. Ridgewood Investments LLC grew its stake in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Stryker during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SYK shares. Evercore ISI lowered their target price on Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Redburn Partners set a $420.00 target price on Stryker in a research note on Thursday, September 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a research note on Friday. 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. Finally, Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.24.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 500 shares of the 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 transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $381.86 on Monday. The company has a market capitalization of $145.99 billion, a P/E ratio of 50.58, a P/E/G ratio of 2.75 and a beta of 0.94. The business’s 50 day moving average is $379.84 and its two-hundred day moving average is $380.14. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. 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 results 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. The company had revenue of $6.02 billion for 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%.Stryker’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Stryker Company 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.