Stryker Corporation $SYK Shares Bought by OFI Invest Asset Management

OFI Invest Asset Management boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 37.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,623 shares of the medical technology company’s stock after purchasing an additional 986 shares during the quarter. OFI Invest Asset Management’s holdings in Stryker were worth $1,433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sachetta LLC lifted its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the 1st quarter valued at $32,000. Ridgewood Investments LLC lifted its stake in shares of Stryker by 48.4% in the 2nd 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 acquired a new position in shares of Stryker in the 1st quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the stock in a transaction dated 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 owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were 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 approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SYK shares. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Evercore ISI decreased their price target on Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. Rothschild & Co Redburn started coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective on the stock. 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 analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $430.10.

Stryker Price Performance

Shares of NYSE SYK opened at $364.77 on Friday. The stock’s 50-day moving average is $380.25 and its two-hundred day moving average is $378.83. 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 Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The company has a market cap of $139.46 billion, a price-to-earnings ratio of 48.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping 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 company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the business earned $2.81 EPS. Stryker’s revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 annualized dividend and a yield of 0.9%. Stryker’s dividend payout ratio is 44.50%.

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.