AQR Capital Management LLC Buys 12,758 Shares of Stryker Corporation $SYK

Key Points

• AQR Capital Management LLC increased its holdings in Stryker Corporation by 12.6%, now owning 113,800 shares valued at approximately $41.44 million.
• Stryker recently reported earnings of $3.13 EPS, exceeding analysts' expectations of $3.07, with a quarterly revenue of $6.02 billion, an increase of 11.1% year over year.
• The company announced a quarterly dividend of $0.84 per share, reflecting a dividend yield of 0.9%, and has set its FY 2025 EPS guidance between 13.400-13.600.

AQR Capital Management LLC boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,800 shares of the medical technology company's stock after purchasing an additional 12,758 shares during the period. AQR Capital Management LLC's holdings in Stryker were worth $41,442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SYK. Continuum Advisory LLC lifted its stake in Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after acquiring an additional 29 shares in the last quarter. Oakworth Capital Inc. lifted its position in shares of Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares in the last quarter. Strategy Asset Managers LLC grew its position in Stryker by 1.4% during the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock valued at $794,000 after purchasing an additional 29 shares in the last quarter. Tritonpoint Wealth LLC increased its stake in Stryker by 0.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock valued at $1,508,000 after buying an additional 30 shares during the period. Finally, Monetary Management Group Inc. lifted its position in Stryker by 0.4% in the 1st quarter. Monetary Management Group Inc. now owns 7,668 shares of the medical technology company's stock worth $2,854,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction 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 sale, the insider owned 12,511 shares in the company, valued at $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 Stock Performance

SYK stock traded down $9.54 on Wednesday, reaching $383.22. 931,653 shares of the company were exchanged, compared to its average volume of 1,399,762. The firm has a market capitalization of $146.51 billion, a PE ratio of 50.76, a PEG ratio of 2.86 and a beta of 0.93. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The stock's fifty day moving average price is $389.39 and its 200 day moving average price is $379.67. 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 posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (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 for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the firm posted $2.81 EPS. The business's 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. On average, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SYK shares. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Evercore ISI increased their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. BTIG Research reiterated 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 report on Thursday, May 22nd. Finally, Needham & Company LLC upped their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Fourteen 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $431.42.

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.