Cooper Financial Group Buys 1,046 Shares of Stryker Corporation $SYK

Key Points

• Cooper Financial Group increased its holdings in Stryker Corporation (SYK) by 90.3%, acquiring a total of 2,205 shares valued at $872,000.
• Insider transactions included Ronda E. Stryker selling 200,000 shares for $75.29 million, resulting in a 5.84% decrease in her position.
• Stryker's stock experienced a 1.5% decline, with a current price of $364.07, amidst analysts adjusting rating targets and maintaining a consensus target price of $430.33.

Cooper Financial Group boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 90.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,205 shares of the medical technology company's stock after acquiring an additional 1,046 shares during the period. Cooper Financial Group's holdings in Stryker were worth $872,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Mogy Joel R Investment Counsel Inc. increased its holdings in Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after buying an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in shares of Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after acquiring an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Stryker in the first quarter valued at about $1,840,000. Mar Vista Investment Partners LLC raised its position in Stryker by 10.2% in the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after purchasing an additional 8,353 shares in the last quarter. Finally, United Services Automobile Association bought a new position in Stryker during the first quarter worth about $2,857,000. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other Stryker news, 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 in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SYK. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Evercore ISI increased their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Needham & Company LLC boosted 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. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Rothschild Redb raised shares of Stryker to a "hold" rating in a report on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and a consensus target price of $430.33.

Stryker Stock Down 1.5%

Shares of NYSE SYK opened at $364.07 on Thursday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm's 50-day simple moving average is $384.08 and its 200 day simple moving average is $379.01. 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 company has a market cap of $139.19 billion, a price-to-earnings ratio of 48.22, a price-to-earnings-growth ratio of 2.66 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last announced 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 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 the consensus estimate of $5.92 billion. During the same period in the previous year, the firm posted $2.81 earnings per share. The company'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 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's payout ratio is presently 44.50%.

About Stryker

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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