Carmel Capital Partners LLC Takes $2.03 Million Position in Stryker Corporation $SYK

Carmel Capital Partners LLC purchased a new stake in Stryker Corporation (NYSE:SYK) in the second quarter, Holdings Channel reports. The firm purchased 5,124 shares of the medical technology company’s stock, valued at approximately $2,027,000.

A number of other institutional investors have also made changes to their positions in the company. Chevy Chase Trust Holdings LLC increased its holdings in shares of Stryker by 0.9% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 193,083 shares of the medical technology company’s stock valued at $76,389,000 after acquiring an additional 1,725 shares during the last quarter. AssuredPartners Investment Advisors LLC increased its holdings in shares of Stryker by 3.7% in the 2nd quarter. AssuredPartners Investment Advisors LLC now owns 1,111 shares of the medical technology company’s stock valued at $440,000 after acquiring an additional 40 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in shares of Stryker by 2.6% in the 2nd quarter. Stratos Wealth Advisors LLC now owns 4,533 shares of the medical technology company’s stock valued at $1,794,000 after acquiring an additional 114 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Stryker by 17.0% in the 2nd quarter. Angeles Wealth Management LLC now owns 1,523 shares of the medical technology company’s stock valued at $603,000 after acquiring an additional 221 shares during the last quarter. Finally, Applied Finance Capital Management LLC increased its holdings in shares of Stryker by 15.5% in the 2nd quarter. Applied Finance Capital Management LLC now owns 39,930 shares of the medical technology company’s stock valued at $15,797,000 after acquiring an additional 5,367 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SYK. Redburn Partners set a $420.00 price objective on Stryker in a research note on Thursday, September 18th. Rothschild & Co Redburn began coverage on Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. BTIG Research upped their price objective on Stryker from $407.00 to $408.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial lowered their price objective on Stryker from $415.00 to $407.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $431.76.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The stock was 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 of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Trading Up 1.5%

NYSE:SYK opened at $374.67 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The stock has a market cap of $143.24 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 2.66 and a beta of 0.94. The business has a fifty day moving average of $379.40 and a 200-day moving average of $378.77. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK) last released its quarterly 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. 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 analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the business posted $2.81 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

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.