MAI Capital Management Acquires 957 Shares of Stryker Corporation $SYK

Key Points

• MAI Capital Management has increased its stake in Stryker Corporation by 0.9%, owning a total of 108,032 shares valued at approximately $40.2 million.
• Stryker reported earnings of $3.13 per share for the last quarter, surpassing estimates, with a revenue increase of 11.1% year-over-year to $6.02 billion.
• The company announced a quarterly dividend of $0.84, yielding 0.9%, set to be paid on October 31st to eligible shareholders.

MAI Capital Management increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,032 shares of the medical technology company's stock after buying an additional 957 shares during the quarter. MAI Capital Management's holdings in Stryker were worth $40,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Nuveen LLC bought a new stake in shares of Stryker during the first quarter worth about $558,075,000. Price T Rowe Associates Inc. MD increased its position in shares of Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Stryker during the fourth quarter worth about $154,140,000. Finally, Vanguard Group Inc. increased its holdings in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI upped their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm'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 completion of 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 disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

Stryker Stock Performance

SYK traded down $1.76 on Tuesday, hitting $389.65. The company's stock had a trading volume of 1,140,976 shares, compared to its average volume of 1,082,272. The company's 50 day simple moving average is $389.57 and its 200-day simple moving average is $379.45. The firm has a market cap of $148.97 billion, a P/E ratio of 51.61, a price-to-earnings-growth ratio of 2.85 and a beta of 0.93. Stryker Corporation has a 12 month low of $329.16 and a 12 month 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 posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company earned $2.81 earnings per share. The business'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. Analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is currently 44.50%.

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.