Corient Private Wealth LLC Increases Stake in Stryker Corporation $SYK

Corient Private Wealth LLC lifted its position in Stryker Corporation (NYSE:SYK) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,127,559 shares of the medical technology company’s stock after acquiring an additional 28,716 shares during the quarter. Stryker accounts for approximately 0.6% of Corient Private Wealth LLC’s investment portfolio, making the stock its 24th largest holding. Corient Private Wealth LLC owned approximately 0.29% of Stryker worth $446,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Vanguard Group Inc. raised its holdings in shares of Stryker by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. State Street Corp increased its holdings in Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after buying an additional 150,204 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after buying an additional 1,021,496 shares during the period. Geode Capital Management LLC raised its stake in Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after buying an additional 79,654 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of NYSE SYK opened at $353.99 on Monday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a market cap of $135.37 billion, a PE ratio of 46.52, a P/E/G ratio of 2.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The business has a 50-day simple moving average of $366.81 and a two-hundred day simple moving average of $378.45.

Stryker (NYSE:SYK) last announced 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 firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. Stryker’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, equities analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

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

Insider Activity

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 522,118 shares of company stock valued at $185,381,932 over the last ninety days. 5.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SYK shares. Truist Financial lifted their price target on Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a report on Friday, November 14th. Rothschild & Co Redburn started coverage on Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Barclays lifted their target price on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Twelve 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $431.83.

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.