Horizon Bancorp Inc. IN Takes $356,000 Position in Stryker Corporation $SYK

Key Points

• Horizon Bancorp Inc. has acquired a new stake in Stryker Corporation, purchasing 900 shares valued at approximately $356,000 during the second quarter.
• Stryker recently declared a quarterly dividend of $0.84 per share, with an expected payment date of October 31st, contributing to a 0.9% yield.
• Despite continuous investment from institutional investors, recent analyst ratings on Stryker reflect caution, with Wall Street Zen downgrading the stock from a "buy" to a "hold" rating.

Horizon Bancorp Inc. IN purchased a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 900 shares of the medical technology company's stock, valued at approximately $356,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sachetta LLC lifted its holdings in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Goodman Advisory Group LLC bought a new position in Stryker in the first quarter valued at about $32,000. Ridgewood Investments LLC lifted its holdings in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after acquiring an additional 30 shares during the period. Ransom Advisory Ltd bought a new position in Stryker in the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Stryker in the first quarter valued at about $40,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYK shares. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Needham & Company LLC increased their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wells Fargo & Company upped their price target on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research report on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $430.10.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm'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 transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE:SYK opened at $370.21 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. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The stock has a 50-day moving average price of $380.53 and a 200 day moving average price of $378.80. The stock has a market capitalization of $141.53 billion, a P/E ratio of 49.03, a P/E/G ratio of 2.70 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last released its 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. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the business posted $2.81 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

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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