InTrack Investment Management Inc Boosts Holdings in Stryker Corporation $SYK

Key Points

• InTrack Investment Management Inc increased its stake in Stryker Corporation by 28.5% during the second quarter, holding 3,886 shares valued at approximately $1,538,000.
• Director Ronda E. Stryker sold 200,000 shares in August for about $75 million, reducing her ownership by 5.84%.
• Stryker reported earnings of $3.13 per share for the latest quarter, exceeding expectations and reflecting a 11.1% year-over-year revenue growth.

InTrack Investment Management Inc lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 28.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,886 shares of the medical technology company's stock after buying an additional 863 shares during the period. InTrack Investment Management Inc's holdings in Stryker were worth $1,538,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sachetta LLC grew its position in Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after purchasing an additional 27 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in Stryker during the 1st quarter worth $32,000. City Holding Co. grew its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Ridgewood Investments LLC grew its position in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after purchasing an additional 30 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in Stryker during the 1st quarter worth $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction 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. The trade was 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 business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was 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 owned by insiders.

Stryker Price Performance

SYK opened at $375.35 on Thursday. 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. The company has a 50 day moving average of $380.99 and a two-hundred day moving average of $378.83. The company has a market cap of $143.50 billion, a P/E ratio of 49.72, a P/E/G ratio of 2.66 and a beta of 0.94.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid 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 payout ratio is currently 44.50%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYK. Wells Fargo & Company raised their price objective 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 stock a "hold" rating in a research report on Monday, August 4th. Rothschild & Co Redburn began coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective on the stock. Needham & Company LLC raised their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Evercore ISI reduced their target price on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research note on Tuesday. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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