Adage Capital Partners GP L.L.C. Decreases Position in Stryker Corporation $SYK

Key Points

• Adage Capital Partners GP L.L.C. reduced its Stryker Corporation holdings by 7.0%, selling 10,044 shares, and now owns 134,347 shares worth approximately $50 million.
• Stryker recently announced a quarterly dividend of $0.84 per share, with a dividend yield of 0.9% and a payout ratio of 44.50%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Stryker, with a target price averaging around $430.10 per share.

Adage Capital Partners GP L.L.C. trimmed its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 134,347 shares of the medical technology company's stock after selling 10,044 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Stryker were worth $50,011,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD increased 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 during the last quarter. Goldman Sachs Group Inc. increased its stake in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after acquiring an additional 261,058 shares during the last quarter. GAMMA Investing LLC increased 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Stryker by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock worth $750,223,000 after acquiring an additional 30,329 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

NYSE SYK traded up $0.81 on Monday, hitting $393.12. 833,727 shares of the company traded hands, compared to its average volume of 1,404,596. The company has a market capitalization of $150.29 billion, a price-to-earnings ratio of 52.07, a P/E/G ratio of 2.85 and a beta of 0.93. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The business's 50 day moving average price is $389.52 and its 200-day moving average price is $379.51. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period last year, the firm earned $2.81 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business 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 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is presently 44.50%.

Insider Activity at Stryker

In related news, insider Viju Menon sold 500 shares of the business'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 completion of the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the business'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 transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Needham & Company LLC boosted their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Citigroup reissued a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Truist Financial set a $415.00 price objective on Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

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.