Alecta Tjanstepension Omsesidigt Boosts Holdings in Stryker Corporation $SYK

Key Points

• Alecta Tjanstepension Omsesidigt increased its stake in Stryker Corporation by 82% during the second quarter, acquiring an additional 206,500 shares to hold a total of 458,300 shares valued at approximately $181.2 million.
• Stryker recently reported earnings of $3.13 per share, exceeding analysts' expectations, with quarterly revenue reaching $6.02 billion, a year-over-year increase of 11.1%.
• The company's upcoming quarterly dividend is set at $0.84 per share, resulting in an annualized dividend of $3.36 and a yield of 0.9%.

Alecta Tjanstepension Omsesidigt raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 82.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 458,300 shares of the medical technology company's stock after acquiring an additional 206,500 shares during the period. Alecta Tjanstepension Omsesidigt owned approximately 0.12% of Stryker worth $181,235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of 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 valued at $772,390,000 after purchasing an additional 2,070,133 shares during the period. Nuveen LLC acquired a new position in shares of Stryker in the 1st quarter valued at $558,075,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock valued at $511,152,000 after purchasing an additional 549,643 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Stryker in the 4th quarter valued at $154,140,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE SYK traded up $3.90 during trading on Monday, hitting $380.73. 420,846 shares of the company were exchanged, compared to its average volume of 1,386,099. The company has a market cap of $145.56 billion, a price-to-earnings ratio of 50.47, a PEG ratio of 2.71 and a beta of 0.93. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm's fifty day moving average price is $387.52 and its 200 day moving average price is $379.05. 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 issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. The company 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%. The business's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is 44.50%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYK. Redburn Partners set a $420.00 price target on shares of Stryker in a report on Thursday. Evercore ISI increased their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Finally, Wells Fargo & Company increased their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $430.33.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction 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 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 SEC, which is available through this hyperlink. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was 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 represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

Stryker Company 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.