Chicago Capital LLC Buys 975 Shares of Stryker Corporation $SYK

Key Points

• Chicago Capital LLC increased its stake in Stryker Corporation by 0.5%, acquiring an additional 975 shares to hold a total of 197,394 shares, valued at approximately $78.1 million.
• The firm's recent quarterly earnings report showed Stryker exceeding analyst expectations with a $3.13 EPS and a revenue of $6.02 billion, reflecting an 11.1% year-over-year growth.
• Stryker has a strong average rating of "Moderate Buy" from analysts, with an average target price of $430.33, indicating positive market sentiment towards the company's future performance.

Chicago Capital LLC grew its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 197,394 shares of the medical technology company's stock after acquiring an additional 975 shares during the quarter. Stryker comprises approximately 1.9% of Chicago Capital LLC's portfolio, making the stock its 18th biggest position. Chicago Capital LLC owned approximately 0.05% of Stryker worth $78,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after acquiring an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after buying an additional 1,021,496 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after buying an additional 261,058 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Stryker by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock worth $776,871,000 after buying an additional 83,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Stryker by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock worth $750,223,000 after buying an additional 30,329 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SYK shares. Evercore ISI lifted their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Rothschild & Co Redburn started coverage on Stryker in a report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price objective for the company. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Rothschild Redb raised Stryker to a "hold" rating in a research report on Thursday, September 18th. Finally, Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average target price of $430.33.

Insider Buying and Selling

In other news, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value 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 disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of Stryker stock opened at $369.02 on Tuesday. The stock has a 50 day moving average of $385.33 and a 200 day moving average of $379.18. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm has a market cap of $141.08 billion, a PE ratio of 48.88, a PEG ratio of 2.66 and a beta of 0.93. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the company earned $2.81 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio is presently 44.50%.

Stryker 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.

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