Cross Staff Investments Inc Makes New Investment in Stryker Corporation $SYK

Cross Staff Investments Inc bought a new position in shares of Stryker Corporation (NYSE:SYK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 508 shares of the medical technology company’s stock, valued at approximately $201,000.

Several other large investors have also added to or reduced their stakes in SYK. Consolidated Portfolio Review Corp grew its holdings in shares of Stryker by 4.2% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 26 shares during the period. Sunflower Bank N.A. grew its holdings in Stryker by 4.0% in the second quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 27 shares during the period. Pitti Group Wealth Management LLC grew its holdings in Stryker by 3.2% in the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after purchasing an additional 27 shares during the period. Sachetta LLC boosted its position in shares of Stryker by 58.7% in the 2nd 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. Finally, Comprehensive Financial Consultants Institutional Inc. raised its stake in Stryker by 0.6% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,546 shares of the medical technology company’s stock valued at $1,799,000 after buying an additional 28 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 1.5%

Shares of SYK stock opened at $364.77 on Friday. The company has a market capitalization of $139.46 billion, a price-to-earnings ratio of 48.31, a PEG ratio of 2.67 and a beta of 0.94. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company’s fifty day moving average price is $380.25 and its 200-day moving average price is $378.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (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 analyst estimates of $5.92 billion. During the same quarter in the prior year, the business posted $2.81 EPS. Stryker’s revenue for the quarter 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 expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYK shares. 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 for the company. Needham & Company LLC increased their price objective on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Finally, Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $430.10.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the firm’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 $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 currently owned by insiders.

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.