Federation des caisses Desjardins du Quebec Acquires 11,561 Shares of Stryker Corporation $SYK

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in Stryker Corporation by 8.6%, owning approximately $54.2 million worth of shares after acquiring an additional 11,561 shares in the first quarter.
• Stryker recently reported $3.13 EPS for the quarter, exceeding estimates, and projected a FY 2025 EPS guidance of 13.400-13.600, indicating strong anticipated growth.
• The company announced a quarterly dividend of $0.84 per share, reflecting a 0.9% dividend yield, with a payout ratio of 44.50%.

Federation des caisses Desjardins du Quebec lifted its position in Stryker Corporation (NYSE:SYK - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 145,544 shares of the medical technology company's stock after acquiring an additional 11,561 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Stryker were worth $54,182,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SYK. Brighton Jones LLC increased its stake in 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 during the period. BLI Banque de Luxembourg Investments acquired a new position in Stryker in the 4th quarter valued at approximately $2,150,000. Baker Avenue Asset Management LP increased its stake in Stryker by 3.6% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,820 shares of the medical technology company's stock valued at $655,000 after buying an additional 63 shares during the period. Cary Street Partners Financial LLC acquired a new position in Stryker in the 4th quarter valued at approximately $3,030,000. Finally, Captrust Financial Advisors increased its stake in Stryker by 0.9% in the 4th quarter. Captrust Financial Advisors now owns 36,272 shares of the medical technology company's stock valued at $13,060,000 after buying an additional 308 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the firm's stock in a transaction dated 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 trade represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares of the company's stock, valued at $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 company insiders.

Stryker Stock Performance

NYSE:SYK traded down $2.32 during midday trading on Friday, reaching $392.02. The stock had a trading volume of 1,094,061 shares, compared to its average volume of 1,407,979. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The firm's fifty day simple moving average is $389.55 and its 200-day simple moving average is $379.57. 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 stock has a market capitalization of $149.87 billion, a P/E ratio of 51.92, a PEG ratio of 2.82 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the business posted $2.81 EPS. Stryker'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, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued 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 (DPR) is presently 44.50%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SYK shares. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Needham & Company LLC increased their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Evercore ISI increased their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

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.