Advisors Asset Management Inc. Purchases 2,196 Shares of Stryker Corporation $SYK

Key Points

• Advisors Asset Management Inc. increased its stake in Stryker Corporation by 7.7% during Q1, now holding 30,621 shares valued at approximately $11.4 million.
• Stryker reported earnings per share of $3.13 for the last quarter, surpassing analyst expectations and marking an 11.1% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.84 per share, payable on October 31st, with an annual yield of 0.9% and a payout ratio of 44.5%.

Advisors Asset Management Inc. lifted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,621 shares of the medical technology company's stock after buying an additional 2,196 shares during the quarter. Advisors Asset Management Inc.'s holdings in Stryker were worth $11,399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYK. GAMMA Investing LLC boosted 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 purchasing an additional 2,070,133 shares in the last quarter. Nuveen LLC bought a new stake in Stryker during the first quarter valued at about $558,075,000. Price T Rowe Associates Inc. MD boosted its position in Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Stryker during the fourth quarter valued at about $154,140,000. Finally, Vanguard Group Inc. boosted 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 purchasing an additional 361,136 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial set a $415.00 price objective on Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Evercore ISI increased their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

Stryker Stock Down 0.5%

Shares of SYK stock opened at $389.65 on Wednesday. The stock has a 50 day moving average of $389.57 and a 200 day moving average of $379.45. 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 stock has a market cap of $148.97 billion, a P/E ratio of 51.61, a P/E/G ratio of 2.85 and a beta of 0.93. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data 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. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company earned $2.81 earnings per share. Stryker's quarterly revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current 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 issued a $0.84 dividend. 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 dividend payout ratio (DPR) 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 transaction of $195,305.00. Following the completion of the sale, the insider directly 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 can be accessed 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 value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

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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