Nvest Financial LLC Raises Position in Stryker Corporation $SYK

Key Points

• Nvest Financial LLC increased its stake in Stryker Corporation by 31.7%, owning 3,859 shares worth approximately $1.5 million after purchasing an additional 929 shares in Q2.
• Director Ronda E. Stryker sold 200,000 shares for about $75.29 million, reducing her ownership by 5.84% to 3,222,108 shares.
• Stryker announced a quarterly dividend of $0.84 per share, with an annualized dividend yield of 0.9%, payable on October 31st to shareholders of record by September 30th.

Nvest Financial LLC raised its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,859 shares of the medical technology company's stock after buying an additional 929 shares during the period. Nvest Financial LLC's holdings in Stryker were worth $1,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Nuveen LLC purchased a new position in Stryker in the 1st quarter valued at approximately $558,075,000. Price T Rowe Associates Inc. MD boosted its position in Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after buying an additional 1,021,496 shares during the period. Alliancebernstein L.P. boosted its position in Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock valued at $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. boosted its position in Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Stryker by 13.1% during 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 purchasing an additional 261,058 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other news, 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 value of $75,290,000.00. Following the completion of the sale, the director directly owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the insider directly owned 12,511 shares of the company's stock, 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 5.90% of the company's stock.

Stryker Stock Performance

NYSE SYK opened at $369.60 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a market capitalization of $141.30 billion, a PE ratio of 48.95, a P/E/G ratio of 2.67 and a beta of 0.94. The company has a fifty day moving average of $379.60 and a two-hundred day moving average of $378.78.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (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 company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the firm posted $2.81 earnings per share. Stryker'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. As a group, analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYK. Rothschild & Co Redburn began coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stryker in a research report on Wednesday, October 8th. Truist Financial decreased their price objective on shares of Stryker from $415.00 to $407.00 and set a "hold" rating for the company in a research report on Wednesday. Needham & Company LLC lifted 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. Finally, Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $431.76.

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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