Naples Global Advisors LLC Purchases 396 Shares of Stryker Corporation $SYK

Naples Global Advisors LLC boosted its position in shares of Stryker Corporation (NYSE:SYK) by 25.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,939 shares of the medical technology company’s stock after acquiring an additional 396 shares during the quarter. Naples Global Advisors LLC’s holdings in Stryker were worth $768,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Goodman Advisory Group LLC bought a new position in Stryker in the 1st quarter worth about $32,000. City Holding Co. grew its stake in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Ridgewood Investments LLC grew its stake in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd bought a new position in Stryker in the 1st quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Stryker in the 1st quarter worth about $40,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Evercore ISI upped their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Rothschild Redb raised shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Finally, Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a “hold” rating in a research report on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $430.33.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’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 completion of the transaction, the director owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.6%

NYSE:SYK opened at $366.50 on Friday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The firm has a 50 day moving average of $383.47 and a 200 day moving average of $378.96. 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 stock has a market capitalization of $140.12 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.62 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS 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 company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the company posted $2.81 earnings per share. Stryker’s revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker’s dividend 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.