Primecap Management Co. CA Raises Position in Stryker Corporation $SYK

Primecap Management Co. CA raised its holdings in shares of Stryker Corporation (NYSE:SYK) by 16.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 504,762 shares of the medical technology company’s stock after buying an additional 69,912 shares during the quarter. Primecap Management Co. CA’s holdings in Stryker were worth $199,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of SYK. Aspen Investment Management Inc raised its stake in Stryker by 4.1% in the second quarter. Aspen Investment Management Inc now owns 5,127 shares of the medical technology company’s stock valued at $2,028,000 after purchasing an additional 202 shares in the last quarter. Wealthspire Advisors LLC grew its stake in Stryker by 112.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 11,958 shares of the medical technology company’s stock worth $4,731,000 after buying an additional 6,332 shares in the last quarter. Perennial Investment Advisors LLC increased its holdings in shares of Stryker by 4.9% in the 2nd quarter. Perennial Investment Advisors LLC now owns 1,099 shares of the medical technology company’s stock worth $435,000 after buying an additional 51 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of Stryker by 13.1% during the 2nd quarter. Portside Wealth Group LLC now owns 892 shares of the medical technology company’s stock valued at $353,000 after buying an additional 103 shares in the last quarter. Finally, United Advisor Group LLC lifted its holdings in shares of Stryker by 20.7% during the 2nd quarter. United Advisor Group LLC now owns 710 shares of the medical technology company’s stock worth $281,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

SYK opened at $359.53 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. The stock’s 50 day simple moving average is $370.62 and its 200 day simple moving average is $381.03. The firm has a market cap of $137.49 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 2.66 and a beta of 0.94. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter last year, the business earned $2.87 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 522,453 shares of company stock valued at $185,516,867 in the last quarter. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Rothschild Redb raised Stryker to a “hold” rating in a research note on Thursday, September 18th. Evercore ISI decreased their price objective on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. UBS Group set a $408.00 target price on Stryker in a research report on Monday, October 13th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Finally, BTIG Research reissued a “buy” rating and set a $410.00 price target on shares of Stryker in a research note on Friday, November 14th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $434.37.

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.