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Chevy Chase Trust Holdings LLC Increases Stock Position in Stryker Corporation $SYK

Stryker logo with Medical background

Key Points

  • Chevy Chase Trust Holdings LLC increased its stake in Stryker Corporation by 0.9%, owning 193,083 shares valued at approximately $76.39 million as of the latest SEC filing.
  • Recent analyst upgrades include Wells Fargo raising the price target from $435 to $445, reflecting strong confidence in the company's performance.
  • Stryker declared a quarterly dividend of $0.84 per share, contributing to an annualized dividend yield of 0.9%, set to be paid on October 31st.
  • Interested in Stryker? Here are five stocks we like better.

Chevy Chase Trust Holdings LLC increased its position in Stryker Corporation (NYSE:SYK - Free Report) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,083 shares of the medical technology company's stock after purchasing an additional 1,725 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Stryker worth $76,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Sachetta LLC raised its holdings in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after acquiring an additional 27 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in Stryker in the first quarter valued at $32,000. Ridgewood Investments LLC raised its holdings in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Stryker in the first quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Stryker in the first quarter valued at $40,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of Stryker in a report on Wednesday, October 8th. Needham & Company LLC increased their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. BTIG Research increased their target price on shares of Stryker from $407.00 to $408.00 and gave the stock a "buy" rating in a report on Monday. Finally, Truist Financial dropped their target price on shares of Stryker from $415.00 to $407.00 and set a "hold" rating on the stock in a report on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $431.76.

Read Our Latest Analysis on SYK

Stryker Stock Down 0.2%

SYK stock opened at $369.05 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm's 50-day simple moving average is $379.46 and its 200 day simple moving average is $378.76. The stock has a market cap of $141.09 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the company earned $2.81 EPS. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In related news, insider Viju Menon sold 500 shares of the 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 transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the 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 transaction, the director 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. 5.90% of the stock is owned by company insiders.

Stryker Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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