Park Avenue Securities LLC Increases Stake in Stryker Corporation $SYK

Key Points

• Park Avenue Securities LLC increased its stake in Stryker Corporation by 8.0%, owning 12,527 shares valued at approximately $4.96 million after purchasing an additional 930 shares in the second quarter.
• Insider transactions involved Viju Menon selling 500 shares and director Ronda E. Stryker selling 200,000 shares, with these trades representing decreases of 3.84% and 5.84% in their respective ownerships.
• Stryker announced a quarterly dividend of $0.84 with an annual yield of 0.9%, payable to shareholders on October 31st, with the ex-dividend date set for September 30th.

Park Avenue Securities LLC raised its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,527 shares of the medical technology company's stock after buying an additional 930 shares during the quarter. Park Avenue Securities LLC's holdings in Stryker were worth $4,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Brighton Jones LLC grew its holdings in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Stryker by 3.9% in the fourth quarter. Toronto Dominion Bank now owns 180,788 shares of the medical technology company's stock valued at $65,092,000 after purchasing an additional 6,823 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Stryker by 5.6% in the fourth quarter. Ascent Group LLC now owns 4,083 shares of the medical technology company's stock valued at $1,470,000 after purchasing an additional 216 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of Stryker in the fourth quarter valued at $95,000. Finally, Liberty Square Wealth Partners LLC purchased a new position in shares of Stryker in the fourth quarter valued at $226,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

Stryker Stock Performance

SYK stock opened at $378.70 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The business has a 50-day moving average price of $387.26 and a 200 day moving average price of $379.05. The company has a market capitalization of $144.78 billion, a P/E ratio of 50.16, a PEG ratio of 2.71 and a beta of 0.93. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

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. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.81 earnings per share. 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 Announces Dividend

The business also recently announced 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 payout ratio is 44.50%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SYK. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Rothschild Redb upgraded Stryker to a "hold" rating in a research report on Thursday, September 18th. Finally, Rothschild & Co Redburn assumed coverage on Stryker in a research report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price 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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