BankPlus Trust Department Purchases 315 Shares of Stryker Corporation $SYK

BankPlus Trust Department increased its stake in shares of Stryker Corporation (NYSE:SYK) by 425.7% during the second quarter, HoldingsChannel reports. The fund owned 389 shares of the medical technology company’s stock after buying an additional 315 shares during the period. BankPlus Trust Department’s holdings in Stryker were worth $154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mogy Joel R Investment Counsel Inc. grew its position in shares of Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock valued at $36,561,000 after acquiring an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in shares of Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock valued at $65,096,000 after acquiring an additional 3,341 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Stryker in the 1st quarter valued at about $1,840,000. Mar Vista Investment Partners LLC boosted its holdings in shares of Stryker by 10.2% during the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock worth $33,572,000 after buying an additional 8,353 shares during the period. Finally, United Services Automobile Association bought a new stake in shares of Stryker during the 1st quarter worth about $2,857,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on SYK shares. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a report on Monday, July 14th. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Needham & Company LLC lifted their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Evercore ISI cut their price objective on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $430.10.

Insider Buying and Selling

In related news, insider Viju Menon sold 500 shares of the company’s stock in a transaction that occurred on 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 $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 3,222,108 shares of the company’s stock, valued at approximately $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 Price Performance

Shares of NYSE:SYK opened at $375.35 on Thursday. The firm has a 50 day moving average of $380.99 and a 200-day moving average of $378.83. The stock has a market capitalization of $143.50 billion, a PE ratio of 49.72, a PEG ratio of 2.66 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 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 net margin of 12.25% and a return on equity of 23.94%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s dividend payout ratio is currently 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.