Deltec Asset Management LLC Buys 700 Shares of Stryker Corporation $SYK

Key Points

• Deltec Asset Management LLC increased its stake in Stryker Corporation by 35.2%, now owning 2,690 shares valued at approximately $1,064,000 as of its latest SEC filing.
• Several hedge funds have recently adjusted their holdings in Stryker, with 77.09% of the stock currently owned by institutional investors.
• Stryker Corporation's latest earnings report showed a quarterly revenue of $6.02 billion, exceeding analyst expectations, and a newly declared dividend of $0.84 will be paid at the end of October.

Deltec Asset Management LLC increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 35.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,690 shares of the medical technology company's stock after acquiring an additional 700 shares during the period. Deltec Asset Management LLC's holdings in Stryker were worth $1,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Goodman Advisory Group LLC purchased a new position in Stryker in the first quarter worth $32,000. City Holding Co. grew its holdings in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Ridgewood Investments LLC grew its holdings in shares of Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Stryker during the 1st quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker during the 1st quarter valued at $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Needham & Company LLC increased their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Rothschild Redb raised shares of Stryker to a "hold" rating in a research report on Thursday, September 18th. Finally, Rothschild & Co Redburn assumed coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction 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 owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

Stryker Stock Performance

Shares of NYSE SYK opened at $369.44 on Wednesday. The firm has a 50 day moving average of $384.81 and a 200 day moving average of $379.11. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $141.24 billion, a price-to-earnings ratio of 48.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.93. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

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. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

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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