CHB Investment Group LLC Makes New Investment in Stryker Corporation $SYK

Key Points

• CHB Investment Group LLC invested approximately $3.86 million in Stryker Corporation, acquiring 9,746 shares, which now represent 2.0% of its investment portfolio.
• Analysts maintain a consensus rating of "Moderate Buy" for Stryker, with an average target price of $430.33, while fourteen analysts rate it as a Buy and six as Hold.
• Stryker recently announced a quarterly dividend of $0.84 per share, with an annualized yield of 0.9%, and has reported a significant year-over-year revenue increase of 11.1% for the last quarter.

CHB Investment Group LLC purchased a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,746 shares of the medical technology company's stock, valued at approximately $3,856,000. Stryker accounts for approximately 2.0% of CHB Investment Group LLC's investment portfolio, making the stock its 8th largest holding.

A number of other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker in the 4th quarter valued at $26,000. Goodman Advisory Group LLC bought a new position in Stryker in the 1st quarter worth approximately $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% during the first 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 during the period. Ridgewood Investments LLC boosted its stake in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after buying an additional 30 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in Stryker in the first quarter worth $37,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Rothschild & Co Redburn began coverage on Stryker in a report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price target for the company. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Wells Fargo & Company lifted their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Rothschild Redb raised Stryker to a "hold" rating in a research note on Thursday, September 18th. Finally, Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $430.33.

Stryker Trading Down 1.3%

Shares of SYK stock opened at $373.12 on Wednesday. The stock has a fifty day simple moving average of $386.91 and a two-hundred day simple moving average of $379.01. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The firm has a market capitalization of $142.65 billion, a PE ratio of 49.42, a PEG ratio of 2.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Insider Activity at Stryker

In related 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 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction 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 sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company's stock.

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.

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