Corient IA LLC Makes New Investment in Stryker Corporation $SYK

Key Points

• Corient IA LLC has acquired 2,000 shares of Stryker Corporation, valued at approximately $744,000, indicating strong institutional interest in the medical technology firm.
• Director Ronda E. Stryker sold 200,000 shares of Stryker stock for $75.29 million, reflecting a 5.84% decrease in her ownership.
• Stryker recently announced a quarterly dividend of $0.84 per share, scheduled for payment on October 31st, with a current annual yield of 0.9% and a payout ratio of 44.50%.

Corient IA LLC bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,000 shares of the medical technology company's stock, valued at approximately $744,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in Stryker during the fourth quarter worth about $26,000. Goodman Advisory Group LLC acquired a new position in Stryker during the first quarter worth about $32,000. City Holding Co. grew its position in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in Stryker during the first quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker during the fourth quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.5%

Shares of SYK traded up $2.0650 on Wednesday, hitting $392.0050. 1,388,344 shares of the stock traded hands, compared to its average volume of 1,439,110. 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 capitalization of $149.87 billion, a P/E ratio of 51.92, a P/E/G ratio of 2.77 and a beta of 0.91. The stock's 50 day moving average is $386.87 and its two-hundred day moving average is $379.45. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. 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 dividend payout ratio is presently 44.50%.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research report on Monday, May 5th. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Needham & Company LLC upped their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Evercore ISI upped their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on 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 owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.20% of the company's stock.

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.