Geode Capital Management LLC Boosts Stake in Stryker Corporation $SYK

Geode Capital Management LLC raised its position in Stryker Corporation (NYSE:SYK) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,393,611 shares of the medical technology company’s stock after purchasing an additional 79,654 shares during the quarter. Geode Capital Management LLC owned 1.93% of Stryker worth $2,910,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SYK. Mid American Wealth Advisory Group Inc. acquired a new position in Stryker during the 2nd quarter worth about $26,000. Sachetta LLC lifted its position in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Ridgewood Investments LLC boosted its stake 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 valued at $36,000 after purchasing an additional 30 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Stryker in the first quarter valued at approximately $37,000. Finally, Solstein Capital LLC purchased a new stake in Stryker during the 2nd quarter worth approximately $43,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SYK. Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a research note on Monday, November 3rd. Truist Financial restated a “hold” rating and set a $392.00 price target (down previously from $407.00) on shares of Stryker in a report on Monday, November 3rd. Rothschild & Co Redburn assumed coverage on Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. BTIG Research raised their target price on shares of Stryker from $408.00 to $410.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $433.37.

Insider Activity

In related news, insider Viju Menon sold 500 shares of the firm’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 transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 520,500 shares of company stock worth $184,803,065. Corporate insiders own 5.20% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $363.68 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The firm’s 50 day moving average is $373.39 and its two-hundred day moving average is $381.33. The firm has a market capitalization of $139.08 billion, a P/E ratio of 48.17, a P/E/G ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the prior year, the business posted $2.87 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

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.