Sanders Morris Harris LLC Makes New $838,000 Investment in Stryker Corporation $SYK

by · The Markets Daily

Sanders Morris Harris LLC acquired a new position in shares of Stryker Corporation (NYSE:SYKFree Report) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,266 shares of the medical technology company’s stock, valued at approximately $838,000.

Other hedge funds have also made changes to their positions in the company. Oak Thistle LLC acquired a new position in shares of Stryker during the 3rd quarter worth approximately $940,000. ARS Wealth Advisors Group LLC grew its position in shares of Stryker by 4.6% during the third quarter. ARS Wealth Advisors Group LLC now owns 780 shares of the medical technology company’s stock worth $288,000 after buying an additional 34 shares in the last quarter. AssuredPartners Investment Advisors LLC increased its holdings in shares of Stryker by 2.8% in the 3rd quarter. AssuredPartners Investment Advisors LLC now owns 1,142 shares of the medical technology company’s stock valued at $422,000 after acquiring an additional 31 shares during the last quarter. TruWealth Advisors LLC lifted its holdings in Stryker by 12.3% in the third quarter. TruWealth Advisors LLC now owns 2,388 shares of the medical technology company’s stock worth $883,000 after acquiring an additional 261 shares during the last quarter. Finally, Clarus Wealth Advisors increased its holdings in shares of Stryker by 8.3% in the 3rd quarter. Clarus Wealth Advisors now owns 743 shares of the medical technology company’s stock worth $275,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In related news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 522,118 shares of company stock valued at $185,381,932. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. Evercore ISI decreased their target price on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Truist Financial lifted their price objective on Stryker from $392.00 to $400.00 and gave the stock a “hold” rating in a report on Friday, November 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $435.00 target price on shares of Stryker in a report on Friday, November 14th. Rothschild Redb raised Stryker to a “hold” rating in a report on Thursday, September 18th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a report on Monday, November 3rd. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $431.83.

Check Out Our Latest Stock Analysis on Stryker

Stryker Price Performance

SYK opened at $351.63 on Wednesday. The company has a market capitalization of $134.47 billion, a price-to-earnings ratio of 46.21, a P/E/G ratio of 2.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm’s fifty day moving average price is $366.25 and its two-hundred day moving average price is $378.04.

Stryker (NYSE:SYKGet Free Report) last issued its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.During the same quarter last year, the business posted $2.87 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. This is an increase from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is currently 44.15%.

Stryker Profile

(Free Report)

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.

See Also

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