Cullen Frost Bankers Inc. Purchases 2,485 Shares of Stryker Corporation $SYK

Cullen Frost Bankers Inc. grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,721 shares of the medical technology company's stock after acquiring an additional 2,485 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Stryker were worth $25,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Mar Vista Investment Partners LLC grew its holdings in Stryker by 10.2% during 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 buying an additional 8,353 shares in the last quarter. United Services Automobile Association bought a new stake in Stryker during the first quarter worth $2,857,000. AXS Investments LLC grew its holdings in Stryker by 13.7% during the first quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company's stock worth $3,286,000 after buying an additional 1,062 shares in the last quarter. Park Edge Advisors LLC bought a new position in Stryker in the 2nd quarter valued at $679,000. Finally, Hendley & Co. Inc. grew its stake in Stryker by 60.3% in the 2nd quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company's stock valued at $5,546,000 after purchasing an additional 5,274 shares during the period. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYK. Needham & Company LLC upped their price objective on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Rothschild & Co Redburn began coverage on Stryker in a research note on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price objective for the company. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Saturday. BTIG Research upped their price objective on Stryker from $407.00 to $408.00 and gave the company a "buy" rating in a research note on Monday, October 13th. Finally, Rothschild Redb upgraded Stryker to a "hold" rating in a research note on Thursday, September 18th. Fifteen 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 a consensus rating of "Moderate Buy" and an average price target of $431.76.

Stryker Stock Down 0.3%

Shares of NYSE SYK opened at $379.96 on Wednesday. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The business's fifty day moving average price is $379.56 and its 200-day moving average price is $379.10. The stock has a market capitalization of $145.26 billion, a PE ratio of 50.33, a P/E/G ratio of 2.75 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating 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 firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research 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. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio is currently 44.50%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on 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 owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, 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. 5.20% of the stock is owned by corporate insiders.

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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