Consolidated Investment Group LLC Buys 700 Shares of Stryker Corporation $SYK

Key Points

• Consolidated Investment Group LLC increased its stake in Stryker Corporation by 7.1%, acquiring 700 additional shares, bringing their total holdings to 10,510 shares valued at approximately $4.16 million.
• Director Ronda E. Stryker sold 200,000 shares at an average price of $376.45, reducing their ownership by 5.84% and resulting in a total of 3,222,108 shares remaining.
• Stryker Corporation recently announced a quarterly dividend of $0.84 to be paid on October 31st, with a current annualized yield of 0.9% and a payout ratio of 44.5%.

Consolidated Investment Group LLC lifted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,510 shares of the medical technology company's stock after acquiring an additional 700 shares during the quarter. Consolidated Investment Group LLC's holdings in Stryker were worth $4,158,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake 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 during the period. Price T Rowe Associates Inc. MD grew its stake 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 during the period. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 261,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 purchasing an additional 83,954 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 30,329 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the 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 transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Stryker Stock Performance

SYK stock opened at $370.59 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. The business's fifty day simple moving average is $382.81 and its two-hundred day simple moving average is $378.92. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The firm has a market cap of $141.68 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 2.64 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results 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 return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the firm posted $2.81 earnings per share. The business's 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. Analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date 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 (DPR) is presently 44.50%.

Analysts Set New Price Targets

Several research analysts have weighed in on SYK shares. Wells Fargo & Company upped their price target on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research note on Saturday, September 27th. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday, September 18th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $430.33.

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.

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