AssuredPartners Investment Advisors LLC Buys 40 Shares of Stryker Corporation $SYK

AssuredPartners Investment Advisors LLC boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,111 shares of the medical technology company’s stock after purchasing an additional 40 shares during the quarter. AssuredPartners Investment Advisors LLC’s holdings in Stryker were worth $440,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SYK. Nuveen LLC bought a new stake in shares of Stryker in the first quarter valued at 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 valued at $4,515,847,000 after acquiring an additional 1,021,496 shares during the period. 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 valued at $511,152,000 after acquiring an additional 549,643 shares during the period. 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 valued at $12,306,572,000 after acquiring an additional 361,136 shares during the period. 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 valued at $838,640,000 after acquiring an additional 261,058 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, 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 value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SYK shares. Redburn Partners set a $420.00 target price on shares of Stryker in a research report on Thursday, September 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a research report on Wednesday, October 8th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price for the company. BTIG Research boosted their price target on Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a research note on Monday. Finally, Needham & Company LLC boosted their price target on Stryker from $442.00 to $448.00 and gave the company 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 given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $431.76.

Stryker Stock Up 1.5%

SYK stock opened at $374.67 on Friday. The company has a market cap of $143.24 billion, a PE ratio of 49.63, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The business has a 50-day simple moving average of $379.40 and a 200 day simple moving average of $378.77. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 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 the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid 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 yield of 0.9%. Stryker’s payout ratio is presently 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.