Kingdon Capital Management L.L.C. Invests $9.90 Million in Stryker Corporation $SYK

Key Points

• Kingdon Capital Management L.L.C. has made a new investment of approximately $9.90 million in Stryker Corporation by acquiring 26,600 shares, which makes it the firm's 22nd largest holding.
• Stryker's stock has an average price target of $430.10 with most analysts rating it as a "Moderate Buy," highlighting a positive outlook for the company's financial performance.
• The company recently announced a quarterly dividend of $0.84 per share, reflecting a payout ratio of 44.50% and an annualized yield of 0.9%.

Kingdon Capital Management L.L.C. bought a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,600 shares of the medical technology company's stock, valued at approximately $9,902,000. Stryker makes up 1.0% of Kingdon Capital Management L.L.C.'s holdings, making the stock its 22nd largest position.

A number of other hedge funds also recently modified their holdings of SYK. Capital A Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter worth $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker during the first quarter worth $32,000. City Holding Co. lifted its holdings 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 worth $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker during the first quarter worth $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Stryker during the fourth quarter worth $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Down 0.5%

SYK traded down $1.80 during midday trading on Wednesday, hitting $388.14. The company had a trading volume of 885,407 shares, compared to its average volume of 1,411,965. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $148.39 billion, a price-to-earnings ratio of 51.41, a PEG ratio of 2.85 and a beta of 0.93. The stock's 50 day moving average price is $389.57 and its 200 day moving average price is $379.45.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating 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 firm 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 posted $2.81 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYK. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Citigroup restated a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company boosted their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

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.