Livforsakringsbolaget Skandia Omsesidigt Boosts Position in Stryker Corporation $SYK

Key Points

• Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Stryker Corporation by 421.3% during Q2, acquiring a total of 67,115 shares valued at approximately $26.6 million.
• Stryker's quarterly earnings beat analyst expectations, reporting $3.13 EPS and $6.02 billion in revenue, marking an 11.1% increase compared to the same quarter last year.
• The company has announced a quarterly dividend of $0.84 per share, with a payout ratio of 44.50%, to be paid on October 31st to stockholders of record on September 30th.

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 421.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,115 shares of the medical technology company's stock after buying an additional 54,240 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Stryker were worth $26,553,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. increased its stake in Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after buying an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after acquiring an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Stryker during the 1st quarter worth about $1,840,000. Mar Vista Investment Partners LLC grew its holdings in Stryker by 10.2% during the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after acquiring an additional 8,353 shares in the last quarter. Finally, United Services Automobile Association bought a new position in Stryker during the 1st quarter worth about $2,857,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

SYK opened at $377.49 on Tuesday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $144.32 billion, a PE ratio of 50.00, a P/E/G ratio of 2.76 and a beta of 0.93. The firm has a 50 day moving average of $388.68 and a two-hundred day moving average of $379.44.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $5.92 billion. During the same period last year, the firm posted $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. On average, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced 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. This represents a $3.36 annualized dividend and a dividend 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

Several research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. BTIG Research reiterated 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 stock a "hold" rating in a report on Monday, August 4th. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Citigroup restated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $431.42.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred 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 completion of the transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred on Monday, August 25th. The shares were 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 of the company's stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is 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.

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