Clark Capital Management Group Inc. Purchases 918 Shares of Stryker Corporation $SYK

Key Points

• Clark Capital Management Group Inc. increased its holdings in Stryker Corporation by 0.5%, owning approximately 194,841 shares valued at $72.53 million as of the latest filing.
• Analysts have a favorable outlook as Needham & Company and Wells Fargo raised their price targets for Stryker to $448.00 and $445.00, respectively, both assigning a "buy" or "overweight" rating.
• Stryker recently announced a quarterly dividend of $0.84 per share, with a yield of 0.9%, set to be paid on October 31st to shareholders of record by September 30th.

Clark Capital Management Group Inc. increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 194,841 shares of the medical technology company's stock after purchasing an additional 918 shares during the quarter. Clark Capital Management Group Inc. owned 0.05% of Stryker worth $72,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Stryker during the 4th quarter valued at $3,030,000. Captrust Financial Advisors lifted its position in shares of Stryker by 0.9% in the fourth quarter. Captrust Financial Advisors now owns 36,272 shares of the medical technology company's stock worth $13,060,000 after buying an additional 308 shares during the last quarter. Cetera Investment Advisers grew its holdings in Stryker by 0.6% during the fourth quarter. Cetera Investment Advisers now owns 92,351 shares of the medical technology company's stock valued at $33,251,000 after purchasing an additional 584 shares during the last quarter. Finally, Crestline Management LP bought a new stake in shares of Stryker during the 4th quarter worth $2,806,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 0.6%

SYK traded down $2.32 during midday trading on Friday, reaching $392.02. 1,094,061 shares of the company were exchanged, compared to its average volume of 1,050,233. The stock has a market capitalization of $149.87 billion, a P/E ratio of 51.92, a PEG ratio of 2.85 and a beta of 0.93. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The stock's 50-day simple moving average is $389.52 and its 200 day simple moving average is $379.56. 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 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 analysts' expectations of $5.92 billion. During the same period in the prior year, the business posted $2.81 EPS. Stryker'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. As a group, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. 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 44.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Wells Fargo & Company increased 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. Needham & Company LLC lifted their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Citigroup reissued a "buy" rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Insiders Place Their Bets

In other news, insider Viju Menon sold 500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade 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 corporate 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.