Stryker Corporation $SYK Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its position in Stryker Corporation (NYSE:SYK) by 1.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 24,381 shares of the medical technology company’s stock after acquiring an additional 450 shares during the period. DAVENPORT & Co LLC’s holdings in Stryker were worth $9,646,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SYK. Goodman Advisory Group LLC purchased a new stake in shares of Stryker in the first quarter valued at $32,000. City Holding Co. boosted 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 buying an additional 74 shares during the last quarter. Ridgewood Investments LLC grew its holdings in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after buying an additional 30 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Stryker during the 1st quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 1.2%

Shares of NYSE SYK opened at $365.99 on Tuesday. The stock has a fifty day moving average price of $382.13 and a 200 day moving average price of $378.92. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a market cap of $139.92 billion, a P/E ratio of 48.48, a P/E/G ratio of 2.67 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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 company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the firm posted $2.81 earnings per share. The firm’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. Research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is 44.50%.

Insider Buying and Selling

In other news, insider Viju Menon sold 500 shares of the business’s stock in a transaction on 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 directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYK. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. BTIG Research restated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a research report on Saturday, September 27th. Evercore ISI boosted their price target on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $430.33.

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.