Geneos Wealth Management Inc. Raises Position in Stryker Corporation $SYK

Geneos Wealth Management Inc. boosted its position in Stryker Corporation (NYSE:SYK) by 50.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 23,132 shares of the medical technology company’s stock after purchasing an additional 7,777 shares during the period. Geneos Wealth Management Inc.’s holdings in Stryker were worth $9,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Stryker during the 2nd quarter valued at $26,000. Elevation Point Wealth Partners LLC bought a new stake in Stryker in the 2nd quarter valued at about $28,000. Sachetta LLC lifted its holdings in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Kilter Group LLC bought a new position in Stryker during the second quarter worth about $29,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of Stryker in the second quarter worth about $29,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYK. Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a research note on Monday, November 3rd. Evercore ISI dropped their target price on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. BTIG Research reiterated a “buy” rating and issued a $410.00 price target on shares of Stryker in a research report on Friday, November 14th. Wells Fargo & Company boosted their price objective on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Finally, Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Saturday. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $431.83.

Stryker Price Performance

Stryker stock opened at $353.99 on Friday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The business has a 50-day simple moving average of $366.81 and a 200 day simple moving average of $378.46. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The stock has a market cap of $135.37 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 2.51 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently declared 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. 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. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s dividend payout ratio is presently 44.15%.

Insider Transactions at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is currently owned by corporate insiders.

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.