Cresset Asset Management LLC Increases Stake in Stryker Corporation $SYK

Key Points

• Cresset Asset Management LLC increased its stake in Stryker Corporation by 20.1% in Q1, adding 3,568 shares for a total of 21,313 shares valued at approximately $7.95 million.
• Institutional investors own 77.09% of Stryker's stock, with several firms making significant investments or changes to their positions recently.
• Stryker announced a quarterly dividend of $0.84 per share, set to be paid on October 31st, representing a 0.9% dividend yield.

Cresset Asset Management LLC increased its position in Stryker Corporation (NYSE:SYK - Free Report) by 20.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,313 shares of the medical technology company's stock after buying an additional 3,568 shares during the quarter. Cresset Asset Management LLC's holdings in Stryker were worth $7,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elefante Mark B bought a new stake in Stryker in the fourth quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. boosted its holdings in Stryker by 3.4% in the first 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 acquiring an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in Stryker by 1.9% in the first 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 during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Stryker in the first quarter valued at approximately $1,840,000. Finally, Mar Vista Investment Partners LLC boosted its holdings 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 valued at $33,572,000 after acquiring an additional 8,353 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 completion of the sale, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on SYK shares. Citigroup reiterated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Finally, BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Stock Up 0.5%

Shares of NYSE SYK traded up $2.0650 during trading on Wednesday, hitting $392.0050. The stock had a trading volume of 1,388,344 shares, compared to its average volume of 1,382,405. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a market capitalization of $149.87 billion, a PE ratio of 51.92, a PEG ratio of 2.83 and a beta of 0.91. The firm has a fifty day moving average of $386.87 and a two-hundred day moving average of $379.45. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

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 (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the firm posted $2.81 EPS. 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. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm 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 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 (DPR) is currently 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.