Baird Financial Group Inc. Increases Stock Holdings in Stryker Corporation $SYK

Key Points

• Baird Financial Group Inc. increased its stake in Stryker Corporation by 8.9%, now holding 359,400 shares worth approximately $133.8 million.
• Stryker reported a quarterly EPS of $3.13, surpassing analyst expectations, and experienced an 11.1% year-over-year increase in revenue to $6.02 billion.
• In addition, Stryker announced a quarterly dividend of $0.84 per share, representing a 0.9% yield, with a payout ratio of 44.50%.

Baird Financial Group Inc. grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 359,400 shares of the medical technology company's stock after buying an additional 29,352 shares during the quarter. Baird Financial Group Inc. owned 0.09% of Stryker worth $133,787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new position in Stryker in the 1st quarter valued at approximately $32,000. City Holding Co. grew its position in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker during the 1st quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Stryker during the 4th quarter valued at $42,000. Institutional investors own 77.09% of the company's stock.

Stryker Stock Down 0.5%

Shares of NYSE SYK traded down $1.80 during trading hours on Wednesday, hitting $388.14. 885,407 shares of the stock were exchanged, compared to its average volume of 1,411,965. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market cap of $148.39 billion, a PE ratio of 51.41, a PEG ratio of 2.85 and a beta of 0.93. The firm has a fifty day moving average price of $389.57 and a 200-day moving average price of $379.45. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its 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 company 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 was up 11.1% compared to the same quarter last year. During the same quarter 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 EPS for the current year.

Stryker Dividend Announcement

The business 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 dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio is currently 44.50%.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 500 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 of the company's stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Evercore ISI raised their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Citigroup reaffirmed a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

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.