PGIM Custom Harvest LLC Acquires 998 Shares of Stryker Corporation $SYK

Key Points

• PGIM Custom Harvest LLC increased its stake in Stryker Corporation by 85.5% during the first quarter, acquiring a total of 2,165 shares valued at approximately $806,000.
• Several institutional investors, including T. Rowe Price and Breed’s Hill Capital, also boosted their holdings in Stryker, which has a combined institutional ownership of 77.09%.
• Stryker's stock has received positive analyst ratings, with a consensus price target of $430.10, and the company reported earnings of $3.13 per share for the last quarter, exceeding expectations.

PGIM Custom Harvest LLC lifted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 85.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,165 shares of the medical technology company's stock after buying an additional 998 shares during the period. PGIM Custom Harvest LLC's holdings in Stryker were worth $806,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in Stryker during the 4th quarter worth $26,000. Goodman Advisory Group LLC purchased a new position in Stryker in the 1st quarter valued at about $32,000. City Holding Co. boosted its position in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in Stryker in the 1st quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Stryker in the 4th quarter valued at about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE SYK traded up $8.9740 during midday trading on Friday, hitting $393.8040. The company had a trading volume of 896,076 shares, compared to its average volume of 1,348,874. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock has a market cap of $150.56 billion, a price-to-earnings ratio of 52.16, a P/E/G ratio of 2.86 and a beta of 0.91. The firm has a fifty day simple moving average of $387.51 and a two-hundred day simple moving average of $379.37. 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 (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $2.81 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYK. Citigroup restated a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business'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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

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.