Okabena Investment Services Inc. Has $949,000 Position in Stryker Corporation $SYK

Key Points

• Okabena Investment Services Inc. increased its holdings in Stryker Corporation by 240.0%, acquiring an additional 1,800 shares to reach a total of 2,550 shares valued at $949,000.
• Several hedge funds, including Schonfeld Strategic Advisors LLC and Brighton Jones LLC, have significantly boosted their stakes in Stryker leading to institutional investors owning 77.09% of the company's stock.
• Research analysts have a consensus rating of "Moderate Buy" for Stryker, with an average price target of $430.10 and recent price objectives set as high as $455.00.

Okabena Investment Services Inc. lifted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 240.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,550 shares of the medical technology company's stock after purchasing an additional 1,800 shares during the period. Okabena Investment Services Inc.'s holdings in Stryker were worth $949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after purchasing an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Stryker by 13.1% during the first 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 period. GAMMA Investing LLC increased its stake in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Stryker by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock worth $750,223,000 after acquiring an additional 30,329 shares during the period. Institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on SYK. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Needham & Company LLC raised their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Evercore ISI raised their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $430.10.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 500 shares of the firm'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 of the company's stock, valued at $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 is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction on 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 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 position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of NYSE SYK traded up $1.81 during mid-day trading on Friday, hitting $391.48. 672,496 shares of the stock traded hands, compared to its average volume of 1,266,991. 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 twelve month low of $329.16 and a twelve month high of $406.19. The company has a market cap of $149.67 billion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. The firm has a 50 day simple moving average of $389.26 and a two-hundred day simple moving average of $379.39.

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 for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the business posted $2.81 EPS. 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, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 dividend yield of 0.9%. Stryker's dividend payout ratio (DPR) is 44.50%.

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.