Price T Rowe Associates Inc. MD Acquires 1,021,496 Shares of Stryker Corporation $SYK

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Stryker Corporation by 9.2%, acquiring an additional 1,021,496 shares, bringing its total ownership to over 12 million shares valued at approximately $4.5 billion.
• Stryker recently reported quarterly earnings of $3.13 EPS, surpassing analysts' expectations, with revenues reaching $6.02 billion—a year-over-year increase of 11.1%.
• The company announced a quarterly dividend of $0.84 per share, with an ex-dividend date of September 30th, 2023, reflecting a 0.9% yield and a payout ratio of 44.50%.

Price T Rowe Associates Inc. MD grew its position in Stryker Corporation (NYSE:SYK - Free Report) by 9.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,131,218 shares of the medical technology company's stock after purchasing an additional 1,021,496 shares during the period. Stryker comprises approximately 0.6% of Price T Rowe Associates Inc. MD's holdings, making the stock its 26th biggest holding. Price T Rowe Associates Inc. MD owned about 3.18% of Stryker worth $4,515,847,000 as of its most recent filing with the SEC.

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

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Up 2.3%

Shares of SYK stock traded up $8.9740 on Friday, reaching $393.8040. The company had a trading volume of 896,076 shares, compared to its average volume of 1,348,874. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a market cap of $150.56 billion, a PE ratio of 52.16, a PEG ratio of 2.86 and a beta of 0.91. The company has a 50-day moving average of $387.51 and a 200-day moving average of $379.37. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current 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 paid a $0.84 dividend. The ex-dividend date of this dividend 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 is 44.50%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Evercore ISI boosted their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Truist Financial set a $415.00 price objective on 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 assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $430.10.

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.