Hilltop National Bank Acquires New Position in Stryker Corporation $SYK

Key Points

• Hilltop National Bank has acquired a new stake in Stryker Corporation, purchasing 1,426 shares valued at approximately $564,000 in the second quarter.
• Stryker's stock received multiple target price increases, with analysts from Evercore ISI and Wells Fargo upgrading their targets to $415.00 and $445.00 respectively, highlighting a consensus rating of "Moderate Buy."
• The company reported a notable 11.1% increase in revenue year-over-year, with earnings per share of $3.13, surpassing estimates, and has set a fiscal year 2025 guidance between 13.400-13.600 EPS.

Hilltop National Bank acquired a new stake in Stryker Corporation (NYSE:SYK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,426 shares of the medical technology company's stock, valued at approximately $564,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Stryker by 2.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,415 shares of the medical technology company's stock valued at $17,968,000 after buying an additional 1,157 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Stryker by 4.5% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 717 shares of the medical technology company's stock valued at $284,000 after buying an additional 31 shares during the last quarter. J. Safra Sarasin Holding AG increased its holdings in Stryker by 58.4% in the second quarter. J. Safra Sarasin Holding AG now owns 3,956 shares of the medical technology company's stock valued at $1,565,000 after buying an additional 1,459 shares during the last quarter. ASR Vermogensbeheer N.V. boosted its stake in Stryker by 25.9% in the second quarter. ASR Vermogensbeheer N.V. now owns 27,978 shares of the medical technology company's stock valued at $11,068,000 after acquiring an additional 5,761 shares during the period. Finally, Brookmont Capital Management grew its holdings in shares of Stryker by 5.3% during the second quarter. Brookmont Capital Management now owns 959 shares of the medical technology company's stock valued at $379,000 after purchasing an additional 48 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

SYK has been the subject of several recent research reports. Evercore ISI upped their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stryker in a report on Saturday, September 27th. Wells Fargo & Company upped their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Rothschild Redb raised Stryker to a "hold" rating in a report on Thursday, September 18th. Finally, Rothschild & Co Redburn initiated coverage on Stryker in a report on Thursday, September 18th. They set a "neutral" rating and a $420.00 target price for the company. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average price target of $430.33.

Stryker Stock Performance

Shares of NYSE SYK opened at $370.59 on Friday. 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 stock has a 50 day simple moving average of $382.81 and a 200-day simple moving average of $378.92. The company has a market cap of $141.68 billion, a PE ratio of 49.08, a P/E/G ratio of 2.64 and a beta of 0.94. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.02 billion during 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 business's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.81 earnings per share. 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 year.

Stryker Dividend Announcement

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

Insider Buying and Selling

In other Stryker 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 completion of the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was 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 of the company's stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Stryker Company 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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