Cresset Asset Management LLC Lowers Position in Stryker Corporation $SYK

Cresset Asset Management LLC reduced its position in shares of Stryker Corporation (NYSE:SYK) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,744 shares of the medical technology company’s stock after selling 1,569 shares during the period. Cresset Asset Management LLC’s holdings in Stryker were worth $7,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker in the second quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker in the second quarter worth $28,000. Sachetta LLC lifted its holdings in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the period. Kilter Group LLC acquired a new position in shares of Stryker during the 2nd quarter worth $29,000. Finally, Ridgewood Investments LLC grew its stake in shares of Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $363.82 on Friday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock has a market cap of $139.13 billion, a price-to-earnings ratio of 47.81, a price-to-earnings-growth ratio of 2.58 and a beta of 0.89. The business has a fifty day moving average of $368.34 and a 200-day moving average of $379.39. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68.

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

Insider Activity

In related news, CFO Preston Wendell Wells sold 165 shares of the company’s 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 transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 522,118 shares of company stock valued at $185,381,932 over the last 90 days. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SYK. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 1st. Evercore ISI lowered their price target on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. Rothschild Redb upgraded Stryker to a “hold” rating in a research report on Thursday, September 18th. Finally, BTIG Research restated a “buy” rating and issued a $410.00 price target on shares of Stryker in a research report on Friday, November 14th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $433.78.

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.