AEGON ASSET MANAGEMENT UK Plc Invests $9.40 Million in Stryker Corporation $SYK

AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Stryker Corporation (NYSE:SYK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,759 shares of the medical technology company’s stock, valued at approximately $9,395,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Nuveen LLC purchased a new stake in shares of Stryker during the first quarter worth about $558,075,000. Price T Rowe Associates Inc. MD boosted its position in shares of Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after acquiring an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Stryker by 66.7% in the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock worth $511,152,000 after acquiring an additional 549,643 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after acquiring an additional 361,136 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after acquiring an additional 261,058 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the business’s stock in a transaction 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 owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research note on Wednesday, October 8th. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Evercore ISI dropped their price objective on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Finally, Needham & Company LLC lifted their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $432.14.

Stryker Stock Up 1.5%

SYK stock opened at $370.27 on Wednesday. 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 firm has a fifty day moving average price of $379.71 and a two-hundred day moving average price of $378.85. The firm has a market cap of $141.56 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 2.63 and a beta of 0.94.

Stryker (NYSE:SYK) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the firm earned $2.81 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts predict that Stryker Corporation will post 13.47 EPS for the current 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 issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio is 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.