Marathon Strategic Advisors LLC Makes New Investment in Stryker Corporation $SYK

Key Points

• Marathon Strategic Advisors LLC has invested approximately $521,000 in Stryker Corporation by acquiring 1,316 shares, which constitutes about 0.5% of its total holdings.
• Stryker's recent earnings report showed a revenue of $6.02 billion, exceeding expectations, while also announcing a quarterly dividend of $0.84 per share scheduled for October 31st.
• Several analysts have raised their target prices for Stryker shares, with a consensus rating of "Moderate Buy" and a target price of $431.76, reflecting positive growth expectations.

Marathon Strategic Advisors LLC acquired a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,316 shares of the medical technology company's stock, valued at approximately $521,000. Stryker comprises approximately 0.5% of Marathon Strategic Advisors LLC's holdings, making the stock its 27th largest position.

Several other institutional investors have also recently bought and sold shares of SYK. Nuveen LLC acquired a new position in Stryker during the first quarter worth $558,075,000. Price T Rowe Associates Inc. MD raised its holdings in 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 buying an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock worth $511,152,000 after buying an additional 549,643 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Stryker by 1.1% in 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 acquiring an additional 361,136 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after acquiring an additional 261,058 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of the company'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 sale, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYK. Needham & Company LLC upped their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company upped their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. BTIG Research upped their target price on shares of Stryker from $407.00 to $408.00 and gave the stock a "buy" rating in a research note on Monday. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Stryker in a research note on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus price target of $431.76.

Stryker Price Performance

SYK opened at $374.67 on Friday. The firm has a market cap of $143.24 billion, a P/E ratio of 49.63, a PEG ratio of 2.66 and a beta of 0.94. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The firm has a 50-day moving average of $379.40 and a 200 day moving average of $378.77.

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 the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts expect that Stryker Corporation will post 13.47 EPS 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 issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio is 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.

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