Advisors Capital Management LLC Buys 987 Shares of Stryker Corporation $SYK

Key Points

• Advisors Capital Management LLC increased its stake in Stryker Corporation by 1.7%, acquiring an additional 987 shares, bringing its total holdings to 59,224 shares valued at $22,046,000.
• Stryker reported a quarterly earnings per share of $3.13, surpassing estimates, with revenue of $6.02 billion and a year-over-year revenue increase of 11.1%.
• The company declared a quarterly dividend of $0.84 per share, which will be payable on October 31st, marking an annualized dividend yield of 0.9%.

Advisors Capital Management LLC raised its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,224 shares of the medical technology company's stock after acquiring an additional 987 shares during the period. Advisors Capital Management LLC's holdings in Stryker were worth $22,046,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in Stryker during the 4th quarter valued at $26,000. Goodman Advisory Group LLC bought a new position in Stryker during the 1st quarter valued at $32,000. City Holding Co. lifted its stake in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Ransom Advisory Ltd bought a new position in Stryker during the 1st quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Stryker during the 1st quarter valued at $40,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Down 2.4%

Shares of SYK opened at $383.22 on Thursday. The business has a 50-day moving average of $389.22 and a 200 day moving average of $379.70. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm has a market cap of $146.51 billion, a P/E ratio of 50.76, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. 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 (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the firm posted $2.81 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is 44.50%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYK. Evercore ISI raised their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company lifted their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $431.42.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

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.

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