Lewis Asset Management LLC Purchases New Shares in Stryker Corporation $SYK

Key Points

• Lewis Asset Management LLC acquired 1,082 shares of Stryker Corporation, valued at approximately $428,000, indicating growing institutional interest in the medical technology company.
• The company plans to pay a quarterly dividend of $0.84 per share on October 31, with a dividend yield of 0.9% and a payout ratio of 44.50%.
• Stryker Corporation recently reported earnings of $3.13 EPS for the quarter, exceeding estimates, and set a fiscal year 2025 guidance of 13.400-13.600 EPS.

Lewis Asset Management LLC bought a new position in Stryker Corporation (NYSE:SYK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,082 shares of the medical technology company's stock, valued at approximately $428,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new stake in shares of Stryker during the fourth quarter worth $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker in the 1st quarter valued at $32,000. City Holding Co. grew its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Stryker in the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Stryker in the first quarter valued at about $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, 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 directly 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 Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, 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 5.20% of the company's stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. Needham & Company LLC raised their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report 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. Rothschild & Co Redburn assumed coverage on Stryker in a report on Thursday. They set a "neutral" rating and a $420.00 target price for the company. Finally, Rothschild Redb upgraded Stryker to a "hold" rating in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $430.33.

Stryker Stock Up 0.5%

Stryker stock traded up $1.87 during trading on Monday, reaching $378.70. 2,095,205 shares of the company's stock were exchanged, compared to its average volume of 985,669. The firm has a market cap of $144.78 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 2.71 and a beta of 0.93. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company's 50-day moving average is $387.26 and its two-hundred day moving average is $379.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The company 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 firm's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is currently 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.