Sax Wealth Advisors LLC Has $1.04 Million Stock Position in Stryker Corporation $SYK

Sax Wealth Advisors LLC raised its position in Stryker Corporation (NYSE:SYK) by 329.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,638 shares of the medical technology company’s stock after purchasing an additional 2,024 shares during the period. Sax Wealth Advisors LLC’s holdings in Stryker were worth $1,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SYK. Brighton Jones LLC raised its holdings in Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after acquiring an additional 609 shares in the last quarter. Portside Wealth Group LLC raised its holdings in Stryker by 15.7% in the 1st quarter. Portside Wealth Group LLC now owns 789 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 107 shares in the last quarter. City Holding Co. grew its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Stryker by 7.9% in the 1st quarter. Farther Finance Advisors LLC now owns 6,799 shares of the medical technology company’s stock valued at $2,538,000 after buying an additional 496 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Stryker in the 1st quarter valued at $1,840,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the business’s stock in a transaction that occurred on 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 owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SYK shares. Wells Fargo & Company raised their price target on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Needham & Company LLC lifted their price target on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Truist Financial set a $415.00 price target on Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday, September 18th. Finally, Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $430.10.

Stryker Trading Up 1.7%

Stryker stock opened at $375.35 on Thursday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a market capitalization of $143.50 billion, a P/E ratio of 49.72, a PEG ratio of 2.66 and a beta of 0.94. The stock has a 50-day simple moving average of $380.99 and a 200 day simple moving average of $378.83.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 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 business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the company posted $2.81 earnings per share. Stryker’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. Analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s payout ratio is currently 44.50%.

Stryker Company 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.