Bragg Financial Advisors Inc Boosts Holdings in Stryker Corporation $SYK

Key Points

• Bragg Financial Advisors Inc has increased its stake in Stryker Corporation by 45.6%, acquiring an additional 4,570 shares and raising its total holdings to 14,601 shares, valued at approximately $5.4 million.
• Stryker Corporation reported a quarterly earnings per share of $3.13, exceeding analysts' estimates, with revenues of $6.02 billion, which represents an 11.1% increase year-over-year.
• The company recently declared a quarterly dividend of $0.84 per share, resulting in an annualized dividend of $3.36, which corresponds to a yield of 0.9%.

Bragg Financial Advisors Inc boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 45.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,601 shares of the medical technology company's stock after acquiring an additional 4,570 shares during the quarter. Bragg Financial Advisors Inc's holdings in Stryker were worth $5,435,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norinchukin Bank The increased its position in shares of Stryker by 15.1% during the 1st quarter. Norinchukin Bank The now owns 17,564 shares of the medical technology company's stock valued at $6,538,000 after purchasing an additional 2,304 shares during the period. CW Advisors LLC boosted its position in shares of Stryker by 18.5% in the first quarter. CW Advisors LLC now owns 61,118 shares of the medical technology company's stock worth $22,759,000 after buying an additional 9,529 shares during the period. Wormser Freres Gestion boosted its position in Stryker by 3.2% during the first quarter. Wormser Freres Gestion now owns 26,403 shares of the medical technology company's stock valued at $9,661,000 after purchasing an additional 814 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Stryker by 9.2% during 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 during the last quarter. Finally, Martingale Asset Management L P raised its holdings in Stryker by 217.2% during the first quarter. Martingale Asset Management L P now owns 14,634 shares of the medical technology company's stock valued at $5,448,000 after buying an additional 10,020 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

NYSE:SYK traded down $1.95 during mid-day trading on Wednesday, reaching $392.38. The stock had a trading volume of 179,739 shares, compared to its average volume of 1,420,833. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The stock has a market capitalization of $150.01 billion, a PE ratio of 51.97, a P/E/G ratio of 2.84 and a beta of 0.91. The stock has a 50-day simple moving average of $388.21 and a two-hundred day simple moving average of $379.35.

Stryker (NYSE:SYK - Get Free Report) last issued its 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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Needham & Company LLC boosted their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. 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 restated a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Fifteen 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 company presently has an average rating of "Moderate Buy" and an average price target of $430.10.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business'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. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by insiders.

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.