Stryker Corporation $SYK Shares Acquired by Motco

Motco grew its stake in Stryker Corporation (NYSE:SYK) by 3,157.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,228 shares of the medical technology company’s stock after purchasing an additional 22,515 shares during the period. Motco’s holdings in Stryker were worth $9,122,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Auto Owners Insurance Co boosted its holdings in shares of Stryker by 97.9% in the 2nd quarter. Auto Owners Insurance Co now owns 8,293 shares of the medical technology company’s stock valued at $3,281,000 after buying an additional 4,103 shares in the last quarter. Milestone Asset Management Group LLC acquired a new position in shares of Stryker in the 2nd quarter valued at $235,000. New York Life Investment Management LLC boosted its holdings in shares of Stryker by 1.5% in the 2nd quarter. New York Life Investment Management LLC now owns 51,608 shares of the medical technology company’s stock valued at $20,418,000 after buying an additional 785 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in shares of Stryker by 20.1% in the 2nd quarter. Howard Capital Management Inc. now owns 2,302 shares of the medical technology company’s stock valued at $911,000 after buying an additional 386 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Stryker by 7.5% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 19,034 shares of the medical technology company’s stock worth $7,530,000 after purchasing an additional 1,320 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of the firm’s 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 completion of the transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s 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 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SYK shares. Evercore ISI decreased their price target on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. UBS Group set a $408.00 price target on shares of Stryker in a research note on Monday, October 13th. BTIG Research increased their price target on shares of Stryker from $407.00 to $408.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Barclays upped their price objective on shares of Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Truist Financial cut their price objective on shares of Stryker from $415.00 to $407.00 and set a “hold” rating for the company in a research report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $432.24.

Stryker Stock Performance

Shares of SYK opened at $376.11 on Wednesday. The company has a 50-day simple moving average of $379.59 and a 200-day simple moving average of $380.49. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $143.79 billion, a PE ratio of 49.82, a P/E/G ratio of 2.76 and a beta of 0.94. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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