Norris Perne & French LLP MI Boosts Holdings in Stryker Corporation $SYK

Key Points

• Norris Perne & French LLP MI increased its stake in Stryker Corporation by 378.4% in Q2, owning 17,535 shares worth approximately $6.94 million.
• Stryker reported quarterly earnings of $3.13 EPS, exceeding analyst expectations, with revenue of $6.02 billion, up 11.1% year-over-year.
• The company announced a quarterly $0.84 dividend with an annualized yield of 0.9%, slated for payment on October 31st.

Norris Perne & French LLP MI lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 378.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,535 shares of the medical technology company's stock after buying an additional 13,870 shares during the period. Norris Perne & French LLP MI's holdings in Stryker were worth $6,937,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Goodman Advisory Group LLC purchased a new position in shares of Stryker in the 1st quarter valued at $32,000. City Holding Co. grew its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Ridgewood Investments LLC grew its position in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Stryker during the 1st quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Stryker during the 1st quarter worth $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.1%

Shares of NYSE SYK opened at $368.83 on Monday. 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. The firm has a 50-day moving average price of $385.71 and a 200 day moving average price of $379.18. The stock has a market capitalization of $141.01 billion, a price-to-earnings ratio of 48.85, a price-to-earnings-growth ratio of 2.66 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last announced 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the business earned $2.81 earnings per share. The business'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. Equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.9%. Stryker's dividend payout ratio (DPR) is 44.50%.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of the firm'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 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 position. The transaction 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 firm'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 transaction, the director owned 3,222,108 shares of the company's stock, valued at $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. 5.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on SYK shares. Needham & Company LLC raised their price objective 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 reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

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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