Turtle Creek Wealth Advisors LLC Raises Holdings in Stryker Corporation $SYK

Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 6.3% during the second quarter, Holdings Channel.com reports. The fund owned 18,395 shares of the medical technology company’s stock after acquiring an additional 1,089 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Stryker were worth $7,278,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Nvest Financial LLC grew its stake in shares of Stryker by 31.7% during the second quarter. Nvest Financial LLC now owns 3,859 shares of the medical technology company’s stock worth $1,527,000 after acquiring an additional 929 shares during the last quarter. Bridges Investment Management Inc. lifted its holdings in shares of Stryker by 67.0% during the second quarter. Bridges Investment Management Inc. now owns 95,738 shares of the medical technology company’s stock worth $37,877,000 after purchasing an additional 38,416 shares during the period. Duncker Streett & Co. Inc. boosted its position in Stryker by 2.1% in the second quarter. Duncker Streett & Co. Inc. now owns 13,326 shares of the medical technology company’s stock valued at $5,272,000 after buying an additional 275 shares during the last quarter. Chesapeake Wealth Management boosted its position in Stryker by 25.6% in the second quarter. Chesapeake Wealth Management now owns 1,312 shares of the medical technology company’s stock valued at $519,000 after buying an additional 267 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in Stryker by 13.9% in the second quarter. Rosenberg Matthew Hamilton now owns 678 shares of the medical technology company’s stock valued at $268,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was 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 in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.1%

Shares of NYSE:SYK opened at $369.60 on Thursday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm has a market capitalization of $141.30 billion, a price-to-earnings ratio of 48.95, a price-to-earnings-growth ratio of 2.67 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’s 50 day moving average price is $379.60 and its 200-day moving average price is $378.78.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the firm posted $2.81 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. BTIG Research upped their target price on Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial dropped their target price on Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research report on Wednesday. Wells Fargo & Company upped their target price on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Rothschild & Co Redburn initiated coverage on Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Finally, Evercore ISI dropped their target price on Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $431.76.

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.