5,124 Shares in Stryker Corporation $SYK Purchased by Carmel Capital Partners LLC

Key Points

• Carmel Capital Partners LLC purchased 5,124 shares of Stryker Corporation for approximately $2,027,000, indicating strong institutional interest in the company.
• Stryker's recent earnings report revealed a year-over-year revenue increase of 11.1%, with reported EPS of $3.13, surpassing analysts' estimates.
• The company announced a quarterly dividend of $0.84 per share, demonstrating commitment to returning value to shareholders, with the next payment scheduled for October 31st.

Carmel Capital Partners LLC bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,124 shares of the medical technology company's stock, valued at approximately $2,027,000.

Several other large investors have also recently added to or reduced their stakes in SYK. Brighton Jones LLC lifted its position in Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after buying an additional 609 shares during the period. GAMMA Investing LLC lifted its position in Stryker by 16.4% during the first quarter. GAMMA Investing LLC now owns 5,574 shares of the medical technology company's stock worth $2,075,000 after buying an additional 785 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in shares of Stryker by 21.7% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,489 shares of the medical technology company's stock worth $555,000 after purchasing an additional 265 shares during the period. Institute for Wealth Management LLC. purchased a new position in shares of Stryker in the 1st quarter worth about $205,000. Finally, United Advisor Group LLC purchased a new position in shares of Stryker in the 1st quarter worth about $219,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm'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 in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. 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 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 sale, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

Shares of NYSE:SYK opened at $374.67 on Friday. The company has a market cap of $143.24 billion, a P/E ratio of 49.63, a PEG ratio of 2.66 and a beta of 0.94. 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 Corporation has a one year low of $329.16 and a one year high of $406.19. The business's 50-day simple moving average is $379.40 and its 200 day simple moving average is $378.77.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for 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 company's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is 44.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Saturday. Rothschild Redb upgraded Stryker to a "hold" rating in a report on Thursday, September 18th. Truist Financial cut their price objective on Stryker from $415.00 to $407.00 and set a "hold" rating on the stock in a report on Wednesday. Wells Fargo & Company raised their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group set a $408.00 price objective on Stryker in a report on Monday. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus target price of $431.76.

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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