MBB Public Markets I LLC Takes $334,000 Position in Stryker Corporation $SYK
by Scott Moore · The Cerbat GemMBB Public Markets I LLC acquired a new stake in Stryker Corporation (NYSE:SYK – Free Report) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 898 shares of the medical technology company’s stock, valued at approximately $334,000.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 buying an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 9.2% during 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 purchasing an additional 1,021,496 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Stryker by 13.1% during 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 purchasing an additional 261,058 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Stryker by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company’s stock valued at $750,223,000 after purchasing an additional 30,329 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on SYK. Evercore ISI upped their target price on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Needham & Company LLC increased their price objective on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. BTIG Research reissued a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Finally, Truist Financial set a $415.00 price objective on Stryker and gave the stock a “hold” rating in a research note on Monday, August 4th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.10.
Get Our Latest Stock Analysis on Stryker
Stryker Stock Performance
Shares of SYK stock opened at $392.02 on Monday. 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 fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock’s 50-day moving average is $389.52 and its two-hundred day moving average is $379.51. The firm has a market cap of $149.87 billion, a P/E ratio of 51.92, a PEG ratio of 2.85 and a beta of 0.93.
Stryker (NYSE:SYK – Get Free Report) last issued its 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 analyst estimates of $5.92 billion. During the same period in the prior year, the firm posted $2.81 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker’s dividend payout ratio is presently 44.50%.
Insider Buying and Selling
In other Stryker 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 transaction of $75,290,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.
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.
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