BankPlus Trust Department Has $154,000 Position in Stryker Corporation $SYK

BankPlus Trust Department grew its stake in shares of Stryker Corporation (NYSE:SYK) by 425.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 389 shares of the medical technology company’s stock after buying an additional 315 shares during the period. BankPlus Trust Department’s holdings in Stryker were worth $154,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Sachetta LLC raised its position in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in Stryker in the first quarter worth about $32,000. City Holding Co. raised its position in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Ridgewood Investments LLC raised its position in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 30 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in Stryker in the first quarter worth about $37,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

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 shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SYK. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a research report on Wednesday. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Rothschild & Co Redburn started coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $430.10.

Stryker Price Performance

SYK opened at $375.35 on Thursday. Stryker Corporation has a one year low of $329.16 and a one 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 company’s 50 day simple moving average is $380.99 and its 200-day simple moving average is $378.83. The stock has a market capitalization of $143.50 billion, a P/E ratio of 49.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating 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 business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the prior year, the firm earned $2.81 earnings per share. Stryker’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. Sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio is 44.50%.

Stryker 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.