Ethic Inc. Has $21.57 Million Holdings in Stryker Corporation $SYK

Key Points

• Ethic Inc. has increased its stake in Stryker Corporation by 5.8%, owning 54,815 shares valued at approximately $21.57 million as reported in their latest SEC filing.
• Stryker's latest earnings report showed an EPS of $3.13, beating estimates, with quarterly revenue of $6.02 billion, reflecting an 11.1% year-over-year increase.
• The company recently announced a quarterly dividend of $0.84 per share, with a current dividend yield of 0.9%, set to be paid to stockholders on October 31st.

Ethic Inc. increased its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,815 shares of the medical technology company's stock after buying an additional 2,986 shares during the quarter. Ethic Inc.'s holdings in Stryker were worth $21,572,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Stryker by 16.4% in the 1st quarter. GAMMA Investing LLC now owns 5,574 shares of the medical technology company's stock valued at $2,075,000 after purchasing an additional 785 shares in the last quarter. Advisor Resource Council bought a new position in shares of Stryker in the 1st quarter valued at $316,000. Flagship Harbor Advisors LLC raised its holdings in shares of Stryker by 3.5% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,656 shares of the medical technology company's stock worth $1,361,000 after buying an additional 124 shares in the last quarter. Finally, Palumbo Wealth Management LLC bought a new stake in shares of Stryker during the 1st quarter worth $225,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Up 1.5%

NYSE SYK opened at $385.39 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 has a 50 day simple moving average of $379.56 and a 200 day simple moving average of $379.10. The stock has a market capitalization of $147.34 billion, a P/E ratio of 51.03, a P/E/G ratio of 2.75 and a beta of 0.94.

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 the consensus estimate 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%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company 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. 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 presently 44.50%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SYK. BTIG Research boosted their target price on Stryker from $407.00 to $408.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Redburn Partners set a $420.00 price objective on shares of Stryker in a research note on Thursday, September 18th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research note on Thursday, September 18th. They set a "neutral" rating and a $420.00 target price on the stock. Finally, Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $431.76.

Insiders Place Their Bets

In related news, insider Viju Menon sold 500 shares of Stryker 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 sale, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the company'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 completion of the transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

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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