Belpointe Asset Management LLC Lowers Stock Holdings in Stryker Corporation $SYK

Belpointe Asset Management LLC reduced its position in Stryker Corporation (NYSE:SYK) by 3.4% in the 2nd quarter, Holdings Channel reports. The fund owned 1,636 shares of the medical technology company’s stock after selling 58 shares during the period. Belpointe Asset Management LLC’s holdings in Stryker were worth $647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the 1st quarter valued at $32,000. City Holding Co. grew its stake in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after buying an additional 74 shares during the period. Ridgewood Investments LLC grew its stake in shares of Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after buying an additional 30 shares during the period. Ransom Advisory Ltd purchased a new stake in shares of Stryker during the 1st quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Stryker during the 1st quarter valued at $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Redburn Partners set a $420.00 price objective on shares of Stryker in a research note on Thursday, September 18th. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Needham & Company LLC lifted their target price on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. BTIG Research restated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Finally, Evercore ISI reduced their target price on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a report on Tuesday. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $430.10.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of SYK stock opened at $375.35 on Thursday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. 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 firm has a market capitalization of $143.50 billion, a P/E ratio of 49.72, a P/E/G ratio of 2.66 and a beta of 0.94. The company’s fifty day moving average price is $380.99 and its two-hundred day moving average price is $378.83.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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 net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the business posted $2.81 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given 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 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.