Ascent Group LLC Buys 1,651 Shares of Stryker Corporation $SYK

Key Points

• Ascent Group LLC increased its stake in Stryker Corporation by 40.4% during the first quarter, owning 5,734 shares valued at approximately $2.14 million.
• Stryker's quarterly earnings surpassed expectations with $3.13 earnings per share, exceeding analyst estimates by $0.06, and reported revenue of $6.02 billion, an 11.1% year-over-year increase.
• Several analysts have set new price targets for Stryker, with consensus reaching an average price target of $430.10 and a strong buy rating from the majority of investment analysts.

Ascent Group LLC grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 40.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,734 shares of the medical technology company's stock after purchasing an additional 1,651 shares during the period. Ascent Group LLC's holdings in Stryker were worth $2,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Stryker by 1.1% in 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 buying an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 in the last quarter. Northern Trust Corp boosted its holdings in Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after purchasing an additional 420,153 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after purchasing an additional 261,058 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Stryker by 43,226.8% during 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 acquiring an additional 2,070,133 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 0.3%

SYK stock traded up $1.25 during midday trading on Friday, reaching $390.92. The company had a trading volume of 211,588 shares, compared to its average volume of 1,413,905. The company has a market capitalization of $149.45 billion, a P/E ratio of 51.78, a PEG ratio of 2.86 and a beta of 0.91. The company has a 50 day moving average of $388.94 and a two-hundred day moving average of $379.43. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research 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. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio is 44.50%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Evercore ISI boosted their price objective 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. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Fifteen 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, the stock 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.