Stryker Corporation $SYK is Hixon Zuercher LLC’s 5th Largest Position

Hixon Zuercher LLC grew its position in Stryker Corporation (NYSE:SYK) by 0.5% during the 2nd quarter, Holdings Channel reports. The fund owned 22,732 shares of the medical technology company’s stock after buying an additional 112 shares during the quarter. Stryker comprises about 2.9% of Hixon Zuercher LLC’s holdings, making the stock its 5th biggest position. Hixon Zuercher LLC’s holdings in Stryker were worth $8,993,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Nuveen LLC acquired a new position in Stryker during the 1st quarter worth approximately $558,075,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 buying an additional 1,021,496 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Stryker by 66.7% in the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after buying an additional 549,643 shares in the last quarter. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after acquiring an additional 261,058 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK opened at $381.86 on Friday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The stock has a market cap of $145.99 billion, a P/E ratio of 50.58, a PEG ratio of 2.75 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $379.84 and a two-hundred day moving average of $380.03.

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 analyst estimates of $5.92 billion. During the same period in the prior year, the business earned $2.81 earnings per share. The company’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. As a group, 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. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s payout ratio is 44.50%.

Analyst Ratings Changes

Several equities research analysts have commented on SYK shares. Barclays boosted their target price on shares of Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research report on Wednesday. BTIG Research raised their price objective on shares of Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Needham & Company LLC upped their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Redburn Partners set a $420.00 target price on shares of Stryker in a report on Thursday, September 18th. Finally, Truist Financial decreased their price target on Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.24.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This 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 is available through the SEC website. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

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.