Welch Group LLC Boosts Stake in Stryker Corporation $SYK

Welch Group LLC lifted its position in Stryker Corporation (NYSE:SYK) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,736 shares of the medical technology company’s stock after buying an additional 973 shares during the quarter. Welch Group LLC’s holdings in Stryker were worth $8,599,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SYK. Nuveen LLC purchased a new stake in Stryker during the 1st quarter worth about $558,075,000. Price T Rowe Associates Inc. MD boosted its position in shares of Stryker by 9.2% in the 1st 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 purchasing an additional 1,021,496 shares during the period. Alliancebernstein L.P. boosted its position in shares of Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after purchasing an additional 549,643 shares during the period. Vanguard Group Inc. lifted its position in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after acquiring an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after acquiring an additional 261,058 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, 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 completion of the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 1.5%

NYSE:SYK opened at $364.77 on Monday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm has a market capitalization of $139.45 billion, a P/E ratio of 48.31, a P/E/G ratio of 2.63 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The business has a 50 day simple moving average of $380.25 and a 200 day simple moving average of $378.90.

Stryker (NYSE:SYK) last announced 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. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the firm posted $2.81 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Truist Financial set a $415.00 target price on Stryker and gave the stock a “hold” rating in a research note on Monday, August 4th. BTIG Research reiterated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Rothschild & Co Redburn started coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price 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.