GraniteShares Advisors LLC Makes New $1.28 Million Investment in Stryker Corporation $SYK

Key Points

• GraniteShares Advisors LLC invested approximately $1.28 million in Stryker Corporation, acquiring 3,239 shares in the second quarter of the year.
• Stryker has received positive outlooks from analysts, with recent price targets raised to between $415.00 and $448.00, and is currently rated as a "Moderate Buy" with a consensus target price of $430.33.
• The company recently declared a quarterly dividend of $0.84, representing a 0.9% yield, with a payout ratio of 44.50%.

GraniteShares Advisors LLC purchased a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,239 shares of the medical technology company's stock, valued at approximately $1,281,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new position in Stryker in the first quarter worth approximately $558,075,000. Price T Rowe Associates Inc. MD increased its stake in shares of Stryker by 9.2% in the 1st 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 purchasing an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock worth $511,152,000 after purchasing an additional 549,643 shares during the period. Vanguard Group Inc. lifted its position in Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after purchasing an additional 261,058 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

SYK has been the topic of several recent research reports. Needham & Company LLC raised their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Evercore ISI raised their target price 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. Wells Fargo & Company upped their price target 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. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, Rothschild Redb raised shares of Stryker to a "hold" rating in a report on Thursday, September 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and a consensus target price of $430.33.

Stryker Stock Up 0.1%

Shares of SYK stock opened at $368.83 on Monday. The stock has a market cap of $141.01 billion, a P/E ratio of 48.85, a PEG ratio of 2.66 and a beta of 0.93. The company's fifty day simple moving average is $385.71 and its two-hundred day simple moving average is $379.18. 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.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insiders Place Their Bets

In other news, insider Viju Menon sold 500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were 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 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 Stryker stock in a transaction dated 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 completion of the transaction, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This 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 corporate insiders.

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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