Cornerstone Advisors LLC Buys 15,000 Shares of Stryker Corporation $SYK

Cornerstone Advisors LLC lifted its stake in Stryker Corporation (NYSE:SYK) by 81.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,400 shares of the medical technology company’s stock after buying an additional 15,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in Stryker were worth $13,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after purchasing an additional 609 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in Stryker by 27.0% in the 1st quarter. Edgestream Partners L.P. now owns 893 shares of the medical technology company’s stock worth $332,000 after buying an additional 190 shares during the period. Independent Wealth Network Inc. increased its stake in Stryker by 5.0% in the 1st quarter. Independent Wealth Network Inc. now owns 711 shares of the medical technology company’s stock worth $265,000 after buying an additional 34 shares in the last quarter. Creekmur Asset Management LLC raised its holdings in Stryker by 3,637.5% during the first quarter. Creekmur Asset Management LLC now owns 598 shares of the medical technology company’s stock valued at $223,000 after acquiring an additional 582 shares during the period. Finally, Diversify Advisory Services LLC purchased a new position in shares of Stryker in the first quarter valued at about $200,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the subject of several research analyst reports. Rothschild & Co Redburn initiated coverage on Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Barclays increased their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. UBS Group set a $408.00 target price on shares of Stryker in a report on Monday, October 13th. Finally, Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $434.37.

Stryker Stock Down 3.0%

NYSE SYK opened at $362.39 on Friday. The stock has a 50 day moving average price of $371.96 and a 200-day moving average price of $381.22. Stryker Corporation has a one year low of $329.16 and a one year 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 company has a market capitalization of $138.59 billion, a P/E ratio of 48.00, a P/E/G ratio of 2.66 and a beta of 0.94.

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

Insider Activity

In related news, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction dated 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 completion of the transaction, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 520,500 shares of company stock worth $184,803,065 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

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.