Oak Ridge Investments LLC Purchases 406 Shares of Stryker Corporation $SYK

Oak Ridge Investments LLC lifted its position in shares of Stryker Corporation (NYSE:SYK) by 1.3% in the second quarter, HoldingsChannel reports. The fund owned 31,340 shares of the medical technology company’s stock after buying an additional 406 shares during the period. Stryker accounts for approximately 0.9% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 25th largest holding. Oak Ridge Investments LLC’s holdings in Stryker were worth $12,399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Sachetta LLC raised its position in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Stryker during the first quarter worth $32,000. Ridgewood Investments LLC increased its holdings in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Stryker in the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker in the first quarter valued at about $40,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was 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 of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. This represents a 5.84% 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.

Stryker Stock Down 1.5%

Shares of Stryker stock opened at $364.77 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The business has a 50-day moving average of $380.25 and a two-hundred day moving average of $378.83. The company has a market capitalization of $139.46 billion, a P/E ratio of 48.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.94. 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 announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given 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 currently 44.50%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SYK shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a report on Wednesday. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Rothschild Redb upgraded Stryker to a “hold” rating in a report on Thursday, September 18th. Wells Fargo & Company upped their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Truist Financial set a $415.00 price objective on Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $430.10.

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.