Caisse DE Depot ET Placement DU Quebec Increases Holdings in Stryker Corporation $SYK

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in Stryker Corporation by 13.3%, acquiring a total of 284,613 shares valued at approximately $105.95 million.
• Stryker recently declared a quarterly dividend of $0.84, representing a dividend yield of 0.9% and a payout ratio of 44.50%.
• Analysts have given Stryker an average rating of "Moderate Buy" with an average price target set at $430.10, reflecting positive market sentiment.

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 13.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 284,613 shares of the medical technology company's stock after buying an additional 33,453 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.07% of Stryker worth $105,947,000 at the end of the most recent quarter.

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

Stryker Price Performance

Shares of SYK traded up $1.81 during mid-day trading on Friday, reaching $391.48. 672,473 shares of the company's stock were exchanged, compared to its average volume of 1,416,755. 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 50-day simple moving average of $388.94 and a two-hundred day simple moving average of $379.43. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a market cap of $149.67 billion, a price-to-earnings ratio of 51.85, a PEG ratio of 2.86 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during 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%. Stryker's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 0.9%. Stryker's payout ratio is currently 44.50%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 3,222,108 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 500 shares of the business'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 sale, the insider directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SYK. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus 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.