1,715 Shares in Stryker Corporation $SYK Purchased by Park Edge Advisors LLC

Key Points

• Park Edge Advisors LLC acquired 1,715 shares of Stryker Corporation (NYSE:SYK), valued at approximately $679,000, during the second quarter.
• Stryker reported $3.13 earnings per share for the last quarter, exceeding expectations and showing an 11.1% revenue increase compared to the same quarter last year.
• The company recently announced a quarterly dividend of $0.84 per share, with an annualized yield of 0.9%, to be paid on October 31st.

Park Edge Advisors LLC acquired a new position in Stryker Corporation (NYSE:SYK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,715 shares of the medical technology company's stock, valued at approximately $679,000.

A number of other hedge funds have also added to or reduced their stakes in SYK. GAMMA Investing LLC grew its stake in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares in the last quarter. Nuveen LLC bought a new position in Stryker in the 1st quarter worth about $558,075,000. Price T Rowe Associates Inc. MD grew its stake in Stryker by 9.2% in the 1st 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 in the last quarter. Alliancebernstein L.P. grew its stake in Stryker by 66.7% in the 1st 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 in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Stryker in the 4th quarter worth about $154,140,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Citigroup reiterated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Needham & Company LLC increased their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $431.42.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the firm'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 sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director 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 ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

NYSE SYK opened at $383.32 on Friday. The company has a market cap of $146.55 billion, a PE ratio of 50.77, a P/E/G ratio of 2.80 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 has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The firm's 50 day moving average price is $388.98 and its 200-day moving average price is $379.57.

Stryker (NYSE:SYK - Get Free Report) last announced 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. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue was up 11.1% compared to the same quarter last year. During the same period last 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 forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company 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 $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) 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.

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