APG Asset Management N.V. Grows Holdings in Stryker Corporation $SYK

Key Points

• APG Asset Management N.V. increased its holdings in Stryker Corporation by 24.2%, owning approximately $158.50 million worth of the company's stock after acquiring an additional 89,708 shares during the first quarter.
• Several other institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., also increased their stakes, contributing to a total institutional ownership of 77.09% for Stryker.
• Analysts remain optimistic about Stryker’s growth, with 15 analysts rating it as a "Buy" and an average target price of $430.10, as well as a quarterly dividend of $0.84 per share announced.

APG Asset Management N.V. lifted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 24.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 459,934 shares of the medical technology company's stock after buying an additional 89,708 shares during the period. APG Asset Management N.V. owned approximately 0.12% of Stryker worth $158,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after purchasing an additional 609 shares during the period. MGO One Seven LLC raised its stake in Stryker by 38.4% during the fourth quarter. MGO One Seven LLC now owns 3,397 shares of the medical technology company's stock worth $1,223,000 after purchasing an additional 942 shares during the period. Integrated Wealth Concepts LLC raised its stake in Stryker by 10.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,240 shares of the medical technology company's stock worth $2,247,000 after purchasing an additional 611 shares during the period. Rothschild Capital Partners LLC purchased a new position in Stryker during the fourth quarter worth about $295,000. Finally, Lord Abbett & CO. LLC raised its stake in Stryker by 51.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 894 shares of the medical technology company's stock worth $322,000 after purchasing an additional 303 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were 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 approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Down 1.1%

NYSE SYK traded down $4.24 on Thursday, hitting $388.91. 279,312 shares of the stock were exchanged, compared to its average volume of 1,416,689. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a market cap of $148.68 billion, a PE ratio of 51.51, a PEG ratio of 2.87 and a beta of 0.91. The company has a 50-day moving average price of $388.61 and a 200-day moving average price of $379.45.

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, topping the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the business posted $2.81 EPS. The firm's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Roth Mkm boosted their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Citigroup reissued 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. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

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.