Howard Capital Management Inc. Boosts Stake in Stryker Corporation $SYK

Howard Capital Management Inc. increased its position in Stryker Corporation (NYSE:SYK) by 20.1% in the 2nd quarter, Holdings Channel reports. The firm owned 2,302 shares of the medical technology company’s stock after buying an additional 386 shares during the period. Howard Capital Management Inc.’s holdings in Stryker were worth $911,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SYK. Consolidated Portfolio Review Corp lifted its stake in Stryker by 4.2% in the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock valued at $256,000 after buying an additional 26 shares during the last quarter. Princeton Global Asset Management LLC raised its position in Stryker by 16.9% in the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after purchasing an additional 26 shares during the last quarter. Sunflower Bank N.A. raised its position in Stryker by 4.0% in the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 27 shares during the last quarter. Pitti Group Wealth Management LLC raised its holdings in shares of Stryker by 3.2% in the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock valued at $341,000 after buying an additional 27 shares during the last quarter. Finally, Sachetta LLC raised its holdings in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 2.0%

NYSE:SYK opened at $376.11 on Wednesday. The stock has a fifty day moving average price of $379.59 and a two-hundred day moving average price of $380.49. The stock has a market capitalization of $143.79 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.76 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through 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 value of $195,305.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Company insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYK. Evercore ISI reduced their target price on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company upped their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Barclays upped their price target on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Finally, UBS Group set a $408.00 price objective on shares of Stryker in a research report on Monday, October 13th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.24.

Stryker Company 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.