DSM Capital Partners LLC Raises Stake in Stryker Corporation $SYK

Key Points

• DSM Capital Partners LLC increased its stake in Stryker Corporation by 19.9% during the second quarter, bringing its holdings to 4,506 shares valued at approximately $1.78 million.
• Stryker reported a quarterly earnings per share (EPS) of $3.13, exceeding analysts' estimates of $3.07, with revenue reaching $6.02 billion for the quarter.
• The company announced a quarterly dividend of $0.84 per share, representing an annualized yield of 0.9%, to be paid on October 31st.

DSM Capital Partners LLC raised its position in Stryker Corporation (NYSE:SYK - Free Report) by 19.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,506 shares of the medical technology company's stock after acquiring an additional 749 shares during the quarter. DSM Capital Partners LLC's holdings in Stryker were worth $1,783,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SYK. Nuveen LLC purchased a new position in Stryker in the first quarter worth approximately $558,075,000. Price T Rowe Associates Inc. MD lifted its stake in Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after acquiring an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Stryker by 66.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock worth $511,152,000 after buying an additional 549,643 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after buying an additional 361,136 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after buying an additional 261,058 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of SYK stock opened at $364.77 on Friday. The stock has a market capitalization of $139.46 billion, a PE ratio of 48.31, a price-to-earnings-growth ratio of 2.67 and a beta of 0.94. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The stock's 50-day moving average price is $380.25 and its 200 day moving average price is $378.75.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion during 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%. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.81 EPS. 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 year.

Stryker Dividend Announcement

The company also recently disclosed 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 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 presently 44.50%.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 500 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. Redburn Partners set a $420.00 price objective on shares of Stryker in a research report on Thursday, September 18th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research report on Wednesday. Needham & Company LLC boosted their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $430.10.

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.

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