Coordinated Financial Services Inc. CO Buys New Shares in Stryker Corporation $SYK

Key Points

• Coordinated Financial Services Inc. invested approximately $659,000 in Stryker Corporation, acquiring 1,770 shares in the first quarter of the year.
• Wall Street analysts have shown a positive outlook for Stryker, with many upgrading their ratings and raising price targets, indicating strong investor confidence in the company's performance.
• Stryker also announced a quarterly dividend of $0.84 per share, reflecting a 0.9% dividend yield for shareholders, with an ex-dividend date set for September 30th.

Coordinated Financial Services Inc. CO purchased a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,770 shares of the medical technology company's stock, valued at approximately $659,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYK. Capital A Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter valued at $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Stryker during the first quarter worth $32,000. City Holding Co. raised its holdings in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker in the 1st quarter worth about $40,000. Finally, Cornerstone Planning Group LLC increased its holdings in Stryker by 46.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 127 shares of the medical technology company's stock valued at $45,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Stryker Price Performance

NYSE SYK traded down $9.54 during trading on Wednesday, reaching $383.22. 931,653 shares of the company traded hands, compared to its average volume of 1,399,762. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market cap of $146.51 billion, a price-to-earnings ratio of 50.76, a P/E/G ratio of 2.86 and a beta of 0.93. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The stock's 50 day moving average price is $389.39 and its two-hundred day moving average price is $379.67.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period in the prior year, the firm earned $2.81 earnings per share. Stryker'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. As a group, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

Analyst Ratings Changes

SYK has been the topic of several recent analyst reports. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citigroup reiterated a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $431.42.

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.