Intech Investment Management LLC Has $2.05 Million Position in Stryker Corporation $SYK

Intech Investment Management LLC grew its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 59.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,500 shares of the medical technology company's stock after purchasing an additional 2,040 shares during the quarter. Intech Investment Management LLC's holdings in Stryker were worth $2,047,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter valued at $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker during the first quarter valued at $32,000. City Holding Co. lifted its stake in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Stryker during the first quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker during the first quarter valued at $40,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analyst Weigh In

SYK has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Citigroup reissued a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $431.42.

Stryker Stock Performance

Shares of NYSE SYK opened at $376.24 on Wednesday. The company has a market capitalization of $143.84 billion, a P/E ratio of 49.83, a P/E/G ratio of 2.72 and a beta of 0.93. The stock has a 50 day moving average of $388.41 and a 200-day moving average of $379.42. 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.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share 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 analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction 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 sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Stryker 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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.