Legacy Wealth Management LLC MS Has $3.36 Million Position in Stryker Corporation $SYK

Legacy Wealth Management LLC MS lowered its stake in Stryker Corporation (NYSE:SYK) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,491 shares of the medical technology company’s stock after selling 225 shares during the period. Stryker accounts for 1.0% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 25th largest position. Legacy Wealth Management LLC MS’s holdings in Stryker were worth $3,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYK. GAMMA Investing LLC boosted its stake in Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after acquiring an additional 2,070,133 shares during the last quarter. Nuveen LLC bought a new position in Stryker in the first quarter valued at approximately $558,075,000. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after acquiring an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Stryker by 66.7% in the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after acquiring an additional 549,643 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Stryker in the fourth quarter valued at approximately $154,140,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 1.4%

SYK opened at $383.32 on Friday. The stock has a market capitalization of $146.55 billion, a P/E ratio of 50.77, a P/E/G ratio of 2.80 and a beta of 0.93. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm’s fifty day simple moving average is $388.98 and its 200 day simple moving average is $379.65. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s payout ratio is currently 44.50%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on 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 sale, the director directly 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 legal filing with the SEC, which can be accessed through this hyperlink. 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 sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Evercore ISI raised their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. 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 report on Friday, August 1st. Citigroup reissued a “buy” rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Needham & Company LLC lifted their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.42.

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.