Avanza Fonder AB Grows Stock Position in Stryker Corporation $SYK

Key Points

• Avanza Fonder AB increased its holdings in Stryker Corporation by 3.6%, owning 37,717 shares worth approximately $14.9 million as of the latest SEC filing.
• The company reported earnings of $3.13 per share for the last quarter, exceeding analyst estimates, with revenue up 11.1% year-over-year.
• Stryker recently announced a quarterly dividend of $0.84 per share, which translates to an annualized dividend yield of 0.9%.

Avanza Fonder AB boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,717 shares of the medical technology company's stock after purchasing an additional 1,326 shares during the quarter. Avanza Fonder AB's holdings in Stryker were worth $14,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after acquiring an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Stryker by 9.2% in the first 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. Goldman Sachs Group Inc. raised its holdings in shares of Stryker by 13.1% during the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Stryker by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock valued at $776,871,000 after purchasing an additional 83,954 shares during the period. Finally, GAMMA Investing LLC boosted 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 worth $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

SYK stock traded down $5.60 during mid-day trading on Tuesday, reaching $372.63. 958,203 shares of the company traded hands, compared to its average volume of 1,392,893. The company has a fifty day moving average price of $387.26 and a 200-day moving average price of $379.05. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a market capitalization of $142.46 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.71 and a beta of 0.93. 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 released its quarterly earnings results 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. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current 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 paid a dividend of $0.84 per share. 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 payout ratio is 44.50%.

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred 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 transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Needham & Company LLC boosted their price objective on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $430.33.

About Stryker

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.