MGO One Seven LLC Purchases 1,845 Shares of Stryker Corporation $SYK

Key Points

• MGO One Seven LLC increased its stake in Stryker Corporation by 59.0%, acquiring an additional 1,845 shares, bringing its total holdings to 4,973 shares valued at approximately $1.97 million.
• Stryker's quarterly earnings showed a strong performance with $3.13 earnings per share, exceeding analysts' expectations, and revenue of $6.02 billion for the quarter.
• The company declared a quarterly dividend of $0.84 per share to be paid on October 31st, representing an annual yield of 0.9%.

MGO One Seven LLC grew its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 59.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,973 shares of the medical technology company's stock after purchasing an additional 1,845 shares during the period. MGO One Seven LLC's holdings in Stryker were worth $1,968,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sachetta LLC raised its holdings in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after buying an additional 27 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter valued at approximately $32,000. Ridgewood Investments LLC raised its holdings in shares of Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Stryker during the first quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the first quarter valued at approximately $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Stryker stock opened at $370.27 on Wednesday. The company has a market cap of $141.56 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 2.63 and a beta of 0.94. The firm's fifty day moving average is $379.71 and its 200 day moving average is $378.85. 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 Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The company 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%. Stryker's revenue was up 11.1% on a year-over-year basis. During the same quarter 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. Sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal 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 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 yield of 0.9%. Stryker's dividend payout ratio is presently 44.50%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. Needham & Company LLC upped their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report 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 report on Monday. Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research report on Wednesday, October 8th. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. 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.com, Stryker has an average rating of "Moderate Buy" and an average price target of $432.14.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the stock in a transaction 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 sale, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the 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 sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

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.

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