Stryker Corporation $SYK Stock Holdings Raised by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Stryker Corporation by 47.9%, owning 11,948 shares valued at $4.45 million as of the latest quarter.
• Stryker reported a quarterly earnings per share (EPS) of $3.13, exceeding estimates and showing an 11.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.84, reflecting a 0.9% yield and a payout ratio of 44.50%.

Kovitz Investment Group Partners LLC grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 47.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,948 shares of the medical technology company's stock after acquiring an additional 3,871 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Stryker were worth $4,448,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Elefante Mark B bought a new position in shares of Stryker in the fourth quarter worth $337,000. Mogy Joel R Investment Counsel Inc. boosted its stake in Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after buying an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after purchasing an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Stryker during the first quarter valued at about $1,840,000. Finally, Mar Vista Investment Partners LLC boosted its stake in shares of Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock valued at $33,572,000 after purchasing an additional 8,353 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent analyst reports. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Citigroup reissued a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Stryker Price Performance

Shares of Stryker stock traded up $8.3540 on Tuesday, hitting $389.9640. 1,691,504 shares of the company were exchanged, compared to its average volume of 1,344,400. The stock has a market capitalization of $149.09 billion, a price-to-earnings ratio of 51.65, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a 50-day moving average price of $386.87 and a 200 day moving average price of $379.45. Stryker Corporation has a 1-year low of $329.16 and a 1-year 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.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating 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 firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period in the prior year, the firm posted $2.81 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts predict 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. Investors 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 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.