Somerset Group LLC Buys Shares of 900 Stryker Corporation $SYK

Key Points

• Somerset Group LLC acquired 900 shares of Stryker Corporation in Q1, worth approximately $335,000, indicating growing interest from institutional investors as they now own 77.09% of the company's stock.
• Stryker has received multiple positive analyst upgrades, with price targets reaching as high as $456.00, reflecting a consensus rating of "Moderate Buy" and an average target of $430.10.
• Director Ronda E. Stryker sold 200,000 shares for about $75.29 million, reducing her ownership by 5.84%, while the company also announced a quarterly dividend of $0.84 to be paid on October 31st.

Somerset Group LLC bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 900 shares of the medical technology company's stock, valued at approximately $335,000.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in 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 buying an additional 2,070,133 shares during the period. Nuveen LLC acquired a new stake in Stryker during the first quarter valued at $558,075,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Stryker during the fourth quarter valued at $154,140,000. Northern Trust Corp grew its position in Stryker by 13.2% during the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after buying an additional 420,153 shares during the period. Finally, Vanguard Group Inc. grew its position in Stryker by 1.1% during 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. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Price Performance

SYK traded up $8.3540 on Tuesday, reaching $389.9640. 1,691,504 shares of the company's stock were exchanged, compared to its average volume of 1,344,400. The stock has a market cap of $149.09 billion, a PE ratio of 51.65, a P/E/G ratio of 2.77 and a beta of 0.91. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The stock's fifty day moving average price is $386.77 and its 200-day moving average price is $379.38. 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 (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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 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 payout ratio is 44.50%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup restated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Needham & Company LLC lifted their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Evercore ISI lifted their target price on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $430.10.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.20% of the stock is owned by insiders.

Stryker 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.