PDS Planning Inc Purchases 744 Shares of Stryker Corporation $SYK

Key Points

• PDS Planning Inc increased its stake in Stryker Corporation by 42% in the second quarter, bringing its total holdings to 2,516 shares valued at approximately $996,000.
• Stryker recently reported earnings of $3.13 per share, exceeding analysts' expectations, and achieved a revenue of $6.02 billion for the quarter.
• The company declared a quarterly dividend of $0.84 per share, with a dividend yield of 0.9%, scheduled for distribution on October 31st.

PDS Planning Inc boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 42.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,516 shares of the medical technology company's stock after buying an additional 744 shares during the period. PDS Planning Inc's holdings in Stryker were worth $996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Sachetta LLC lifted its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the 1st quarter valued at approximately $32,000. Ridgewood Investments LLC lifted its stake in shares of Stryker by 48.4% in the 2nd 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 bought a new stake in shares of Stryker in the 1st quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker in the 1st quarter valued at approximately $40,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 1.5%

Shares of NYSE:SYK opened at $364.77 on Friday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The business's fifty day simple moving average is $380.25 and its 200-day simple moving average is $378.75. The company has a market capitalization of $139.46 billion, a PE ratio of 48.31, a P/E/G ratio of 2.67 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last announced 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. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the business posted $2.81 EPS. The business's revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYK. Truist Financial set a $415.00 price objective on Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stryker in a report on Wednesday. Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. Finally, Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Insiders Place Their Bets

In other 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 value of $195,305.00. Following the completion of 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 document filed with the Securities & Exchange Commission, 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 stock was 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 $1,212,962,556.60. The trade was 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.

About Stryker

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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