Canopy Partners LLC Boosts Holdings in Stryker Corporation $SYK

Canopy Partners LLC grew its position in Stryker Corporation (NYSE:SYK) by 26.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,811 shares of the medical technology company’s stock after buying an additional 374 shares during the period. Canopy Partners LLC’s holdings in Stryker were worth $716,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SYK. Brighton Jones LLC grew its stake in shares of 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 buying an additional 609 shares during the period. Capital Investment Advisors LLC grew its stake in shares of Stryker by 76.0% in the 1st quarter. Capital Investment Advisors LLC now owns 3,240 shares of the medical technology company’s stock valued at $1,206,000 after buying an additional 1,399 shares during the period. Courier Capital LLC grew its stake in shares of Stryker by 22.5% in the 1st quarter. Courier Capital LLC now owns 3,740 shares of the medical technology company’s stock valued at $1,392,000 after buying an additional 686 shares during the period. Moss Adams Wealth Advisors LLC grew its stake in shares of Stryker by 29.0% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 1,036 shares of the medical technology company’s stock valued at $387,000 after buying an additional 233 shares during the period. Finally, Portside Wealth Group LLC lifted its holdings in shares of Stryker by 15.7% in the 1st quarter. Portside Wealth Group LLC now owns 789 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $369.14 on Wednesday. The firm has a market cap of $141.12 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 2.64 and a beta of 0.94. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $381.50 and its two-hundred day moving average is $378.86.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating 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 business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the business earned $2.81 EPS. The company’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, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal 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 $0.84 dividend. 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 dividend payout ratio (DPR) is presently 44.50%.

Analyst Ratings Changes

SYK has been the topic of several recent analyst reports. BTIG Research restated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a report on Saturday, September 27th. Finally, Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective on the stock. 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 data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $430.10.

Insiders Place Their Bets

In other news, insider Viju Menon sold 500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were 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. This trade represents a 3.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

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.