Sigma Investment Counselors Inc. increased its stake in shares of Stryker Corporation (NYSE:SYK – Free Report) by 1.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,021 shares of the medical technology company’s stock after buying an additional 521 shares during the quarter. Stryker comprises 0.9% of Sigma Investment Counselors Inc.’s holdings, making the stock its 28th largest position. Sigma Investment Counselors Inc.’s holdings in Stryker were worth $16,229,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in SYK. Mar Vista Investment Partners LLC raised its position in Stryker by 10.2% in the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock valued at $33,572,000 after purchasing an additional 8,353 shares during the period. United Services Automobile Association acquired a new stake in shares of Stryker during the 1st quarter worth about $2,857,000. AXS Investments LLC increased its position in shares of Stryker by 13.7% during the 1st quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company’s stock worth $3,286,000 after purchasing an additional 1,062 shares during the last quarter. Park Edge Advisors LLC acquired a new stake in shares of Stryker during the 2nd quarter worth about $679,000. Finally, Hendley & Co. Inc. increased its position in shares of Stryker by 60.3% during the 2nd quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company’s stock worth $5,546,000 after purchasing an additional 5,274 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on SYK shares. UBS Group set a $408.00 price objective on Stryker in a research report on Monday, October 13th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Saturday. BTIG Research raised their price objective on Stryker from $407.00 to $408.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Rothschild Redb raised Stryker to a “hold” rating in a research report on Thursday, September 18th. Finally, Wells Fargo & Company boosted 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. Fifteen 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, the company has a consensus rating of “Moderate Buy” and an average target price of $431.76.
Insider Buying and Selling at Stryker
In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 500 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value 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. Insiders own 5.90% of the company’s stock.
Stryker Price Performance
SYK stock opened at $374.67 on Friday. 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 market capitalization of $143.24 billion, a PE ratio of 49.63, a P/E/G ratio of 2.70 and a beta of 0.94. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The business’s fifty day moving average price is $379.40 and its 200 day moving average price is $378.77.
Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the business earned $2.81 EPS. The company’s quarterly 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. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.
Stryker Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s payout ratio is presently 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.
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