Concord Asset Management LLC VA Takes $382,000 Position in Stryker Corporation $SYK

Key Points

• Concord Asset Management LLC has acquired a new position in Stryker Corporation (NYSE:SYK), investing approximately $382,000 for 966 shares during the second quarter.
• Multiple institutional investors, including Nuveen LLC and Price T Rowe Associates Inc., have significantly increased their stakes in Stryker, indicating strong institutional interest with 77.09% of the stock currently held by such entities.
• Stryker's recent earnings report showed a 11.1% year-over-year revenue increase to $6.02 billion and a quarterly EPS of $3.13, surpassing analyst expectations.

Concord Asset Management LLC VA bought a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 966 shares of the medical technology company's stock, valued at approximately $382,000.

A number of other institutional investors have also recently bought and sold shares of SYK. Nuveen LLC acquired a new position in Stryker in the 1st quarter valued at approximately $558,075,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Stryker by 66.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock valued at $511,152,000 after acquiring an additional 549,643 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Stryker by 1.1% during the 1st 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. Finally, Goldman Sachs Group Inc. boosted its position in Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after purchasing an additional 261,058 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. UBS Group set a $408.00 price objective on Stryker in a research report on Monday. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stryker in a research note on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $432.14.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the firm's stock in a transaction on 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 owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company'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 transaction, the director directly 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. 5.20% of the stock is currently owned by insiders.

Stryker Trading Up 0.1%

NYSE:SYK opened at $364.95 on Tuesday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company's 50 day moving average is $379.93 and its 200-day moving average is $378.91. 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 firm has a market cap of $139.52 billion, a price-to-earnings ratio of 48.34, a P/E/G ratio of 2.63 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating 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 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 company earned $2.81 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm 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. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is currently 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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