Empowered Funds LLC Has $3.23 Million Holdings in Stryker Corporation $SYK

Key Points

• Empowered Funds LLC increased its stake in Stryker Corporation by 13.5%, owning a total of 8,678 shares valued at $3,230,000 as of its latest SEC filing.
• Insider Viju Menon sold 500 shares for approximately $195,305, while Director Ronda E. Stryker sold 200,000 shares valued at $75.29 million.
• Stryker has been given various ratings by analysts, with a consensus rating of "Moderate Buy" and an average target price of $431.42 per share.

Empowered Funds LLC boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,678 shares of the medical technology company's stock after purchasing an additional 1,034 shares during the period. Empowered Funds LLC's holdings in Stryker were worth $3,230,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after buying an additional 609 shares during the last quarter. Gotham Asset Management LLC lifted its position in shares of Stryker by 139.8% in the fourth quarter. Gotham Asset Management LLC now owns 4,251 shares of the medical technology company's stock worth $1,531,000 after buying an additional 2,478 shares during the last quarter. Nomura Holdings Inc. lifted its position in shares of Stryker by 220.2% in the fourth quarter. Nomura Holdings Inc. now owns 15,925 shares of the medical technology company's stock worth $5,734,000 after buying an additional 10,951 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Stryker by 12.3% in the fourth quarter. ProShare Advisors LLC now owns 51,940 shares of the medical technology company's stock worth $18,701,000 after buying an additional 5,686 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its position in shares of Stryker by 11.9% in the fourth quarter. Rafferty Asset Management LLC now owns 38,909 shares of the medical technology company's stock worth $14,009,000 after buying an additional 4,134 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC boosted their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Evercore ISI lifted their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Truist Financial set a $415.00 price objective on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $431.42.

Stryker Stock Performance

SYK traded down $5.85 on Monday, hitting $377.49. 843,029 shares of the stock traded hands, compared to its average volume of 974,703. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The firm has a market capitalization of $144.32 billion, a PE ratio of 50.00, a P/E/G ratio of 2.76 and a beta of 0.93. The business has a fifty day moving average price of $388.68 and a two-hundred day moving average price of $379.44. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share 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 company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the company posted $2.81 EPS. The company'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. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value 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. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

Stryker 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.