Brookmont Capital Management Purchases 48 Shares of Stryker Corporation $SYK

Brookmont Capital Management lifted its position in shares of Stryker Corporation (NYSE:SYK) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 959 shares of the medical technology company’s stock after purchasing an additional 48 shares during the quarter. Brookmont Capital Management’s holdings in Stryker were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SYK. Mogy Joel R Investment Counsel Inc. boosted its holdings in Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock worth $36,561,000 after acquiring an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock worth $65,096,000 after acquiring an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Stryker in the first quarter worth $1,840,000. Mar Vista Investment Partners LLC lifted its holdings in shares of Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock valued at $33,572,000 after purchasing an additional 8,353 shares in the last quarter. Finally, United Services Automobile Association bought a new position in shares of Stryker during the first quarter valued at $2,857,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of SYK opened at $364.07 on Thursday. 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 business has a 50-day simple moving average of $384.08 and a two-hundred day simple moving average of $379.01. The stock has a market cap of $139.19 billion, a price-to-earnings ratio of 48.22, a PEG ratio of 2.66 and a beta of 0.95. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business 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 business posted $2.81 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm 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 is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Rothschild Redb raised Stryker to a “hold” rating in a report on Thursday, September 18th. Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Rothschild & Co Redburn initiated coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target on the stock. Finally, BTIG Research reissued a “buy” rating on shares of Stryker in a report on Monday, July 14th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $430.33.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. Company 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.