Ieq Capital LLC Raises Stock Position in Stryker Corporation $SYK

Key Points

• Ieq Capital LLC increased its stake in Stryker Corporation by 24.5% during the first quarter, owning a total of 26,993 shares valued at approximately $10 million.
• Insider activity includes significant sales, with Director Ronda E. Stryker selling 200,000 shares for $75.29 million, leading to a 5.84% decrease in her ownership.
• Brokerages have optimistic outlooks on Stryker, with a majority rating of "Buy" and a consensus target price of $430.10, reflecting strong market confidence in the company's performance.

Ieq Capital LLC increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 24.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,993 shares of the medical technology company's stock after buying an additional 5,306 shares during the period. Ieq Capital LLC's holdings in Stryker were worth $10,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after acquiring an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after acquiring an additional 261,058 shares in the last quarter. GAMMA Investing LLC lifted its position in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Stryker by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock valued at $750,223,000 after acquiring an additional 30,329 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction 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 transaction, the director directly owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $195,305.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Stock Performance

Stryker stock traded up $1.81 during trading on Friday, reaching $391.48. The company had a trading volume of 672,496 shares, compared to its average volume of 1,266,991. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The firm's 50-day simple moving average is $389.26 and its 200 day simple moving average is $379.39. The firm has a market capitalization of $149.67 billion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. 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 (NYSE:SYK - Get Free Report) last announced 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. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period last year, the firm earned $2.81 EPS. Stryker's revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. 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 currently 44.50%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SYK shares. Citigroup reaffirmed a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Wells Fargo & Company upped their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Evercore ISI increased their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.