Fenimore Asset Management Inc Increases Stake in Stryker Corporation $SYK

Key Points

• Fenimore Asset Management Inc increased its stake in Stryker Corporation by 0.2%, now owning 524,815 shares valued at approximately $207.6 million, making it the fund's third largest position.
• A total of 77.09% of Stryker's stock is currently owned by institutional investors, who have shown general growth in their positions during the second quarter.
• Stryker Corporation reported earnings of $3.13 per share for the last quarter, exceeding estimates, and set guidance for FY 2025 EPS between $13.400 to $13.600.

Fenimore Asset Management Inc increased its position in Stryker Corporation (NYSE:SYK - Free Report) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524,815 shares of the medical technology company's stock after buying an additional 830 shares during the quarter. Stryker accounts for 4.1% of Fenimore Asset Management Inc's portfolio, making the stock its 3rd largest position. Fenimore Asset Management Inc owned about 0.14% of Stryker worth $207,632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Petros Family Wealth LLC raised its position in Stryker by 3.8% in the 2nd quarter. Petros Family Wealth LLC now owns 4,536 shares of the medical technology company's stock worth $1,794,000 after purchasing an additional 167 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Stryker by 2.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,968 shares of the medical technology company's stock worth $3,152,000 after buying an additional 165 shares during the period. Knights of Columbus Asset Advisors LLC boosted its holdings in Stryker by 1.4% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 33,850 shares of the medical technology company's stock valued at $13,392,000 after acquiring an additional 454 shares during the period. Plimoth Trust Co. LLC grew its position in Stryker by 0.8% during the 2nd quarter. Plimoth Trust Co. LLC now owns 8,383 shares of the medical technology company's stock worth $3,317,000 after acquiring an additional 69 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its stake in Stryker by 1.9% in the 2nd quarter. DAVENPORT & Co LLC now owns 24,381 shares of the medical technology company's stock worth $9,646,000 after purchasing an additional 450 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SYK. Rothschild & Co Redburn began coverage on Stryker in a research note on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective for the company. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Redburn Partners set a $420.00 price objective on shares of Stryker in a research note on Thursday, September 18th. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Wells Fargo & Company upped their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $430.33.

Insiders Place Their Bets

In other news, insider Viju Menon sold 500 shares of the firm'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 transaction, the insider directly owned 12,511 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 3,222,108 shares in the company, 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. 5.20% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of Stryker stock opened at $370.59 on Monday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm has a market capitalization of $141.68 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.67 and a beta of 0.94. 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 business has a fifty day simple moving average of $382.81 and a two-hundred day simple moving average of $378.96.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is 44.50%.

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.

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