Merit Financial Group LLC Increases Holdings in Stryker Corporation $SYK

Key Points

• Merit Financial Group LLC has increased its holdings in Stryker Corporation by 108.1% during the second quarter, owning a total of 21,002 shares valued at $8.3 million.
• In a significant insider transaction, Director Ronda E. Stryker sold 200,000 shares for approximately $75.29 million, reducing her ownership stake by 5.84%.
• Stryker recently reported a quarterly earnings per share of $3.13, surpassing estimates, and declared a quarterly dividend of $0.84, translating to an annualized yield of 0.9%.

Merit Financial Group LLC grew its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 108.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,002 shares of the medical technology company's stock after acquiring an additional 10,908 shares during the quarter. Merit Financial Group LLC's holdings in Stryker were worth $8,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the 1st quarter valued at $32,000. City Holding Co. lifted its position in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Ridgewood Investments LLC boosted its stake in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Stryker during the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Stryker in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

Stryker Stock Up 1.1%

Shares of Stryker stock opened at $370.59 on Monday. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a market cap of $141.68 billion, a P/E ratio of 49.08, a PEG ratio of 2.67 and a beta of 0.94. 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 fifty day moving average of $382.81 and a two-hundred day moving average of $378.96.

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 the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's payout ratio is 44.50%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price target for the company. Evercore ISI raised their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $430.33.

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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