Stryker Corporation $SYK Shares Acquired by Ascent Group LLC

Ascent Group LLC lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 40.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,734 shares of the medical technology company’s stock after buying an additional 1,651 shares during the period. Ascent Group LLC’s holdings in Stryker were worth $2,135,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Meiji Yasuda Life Insurance Co raised its stake in shares of Stryker by 20.8% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 5,969 shares of the medical technology company’s stock worth $2,222,000 after buying an additional 1,026 shares during the period. United Services Automobile Association acquired a new position in shares of Stryker during the 1st quarter worth approximately $2,857,000. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Stryker by 6.9% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,670 shares of the medical technology company’s stock worth $2,855,000 after buying an additional 498 shares during the period. Signature Estate & Investment Advisors LLC raised its stake in shares of Stryker by 4.1% during the 1st quarter. Signature Estate & Investment Advisors LLC now owns 1,538 shares of the medical technology company’s stock worth $572,000 after buying an additional 61 shares during the period. Finally, Hamilton Capital LLC raised its stake in shares of Stryker by 12.7% during the 1st quarter. Hamilton Capital LLC now owns 905 shares of the medical technology company’s stock worth $337,000 after buying an additional 102 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYK has been the subject of several research analyst reports. Roth Mkm upped their target price on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Needham & Company LLC boosted their price target on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Evercore ISI boosted their price target on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $430.10.

Stryker Stock Up 2.3%

Shares of NYSE:SYK opened at $393.8040 on Friday. 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 business has a fifty day moving average of $387.51 and a two-hundred day moving average of $379.37. The stock has a market cap of $150.56 billion, a P/E ratio of 52.16, a PEG ratio of 2.86 and a beta of 0.91. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results 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. The company 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%.The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm 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 dividend of $0.84 per share. 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 is currently 44.50%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the 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 in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

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.