D.B. Root & Company LLC Has $1.39 Million Stock Position in Stryker Corporation $SYK

D.B. Root & Company LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 2.5% during the second quarter, Holdings Channel.com reports. The firm owned 3,516 shares of the medical technology company’s stock after selling 92 shares during the period. D.B. Root & Company LLC’s holdings in Stryker were worth $1,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after purchasing an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD grew its position in Stryker by 9.2% in the 1st 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 purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. grew its position in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Stryker by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock valued at $776,871,000 after purchasing an additional 83,954 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Stryker by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company’s stock valued at $750,223,000 after purchasing an additional 30,329 shares during the period. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SYK. BTIG Research reissued a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Needham & Company LLC lifted their price target on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Rothschild & Co Redburn began coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $430.33.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were 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 approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares of the company’s stock, 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. 5.20% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

NYSE SYK opened at $370.59 on Monday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a market cap of $141.68 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 2.67 and a beta of 0.94. The company has a fifty day moving average price of $382.81 and a 200-day moving average price of $378.96.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the business posted $2.81 EPS. The business’s revenue 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, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared 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 yield of 0.9%. Stryker’s dividend payout ratio is presently 44.50%.

About Stryker

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.