RMG Wealth Management LLC Purchases New Position in Stryker Corporation $SYK

RMG Wealth Management LLC acquired a new stake in shares of Stryker Corporation (NYSE:SYK) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 142 shares of the medical technology company’s stock, valued at approximately $55,000.

Several other large investors have also recently bought and sold shares of SYK. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the 1st quarter valued at $32,000. City Holding Co. grew its stake in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Ridgewood Investments LLC increased its holdings in shares of Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Stryker in the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the first quarter worth about $40,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.8%

Stryker stock opened at $369.14 on Wednesday. The company has a market cap of $141.12 billion, a price-to-earnings ratio of 48.89, a P/E/G ratio of 2.64 and a beta of 0.94. The firm has a 50-day moving average of $381.50 and a 200-day moving average of $378.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. BTIG Research reissued a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Redburn Partners set a $420.00 price objective on shares of Stryker in a research report on Thursday, September 18th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a report on Saturday, September 27th. Finally, Wells Fargo & Company lifted their price target on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $430.10.

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.