Rice Partnership LLC Has $4.88 Million Stock Holdings in Stryker Corporation $SYK

Key Points

• Rice Partnership LLC increased its stake in Stryker Corporation by 15.7% in Q2 2023, owning shares worth approximately $4.88 million as of its latest SEC filing.
• Institutional investors now hold 77.09% of Stryker's stock, indicating strong institutional confidence, with several firms also increasing their positions in the company.
• Stryker has received various price target adjustments from analysts, with current targets ranging from $410.00 to $445.00, reflecting diverse projections of its growth potential.

Rice Partnership LLC increased its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 15.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,344 shares of the medical technology company's stock after acquiring an additional 1,674 shares during the period. Rice Partnership LLC's holdings in Stryker were worth $4,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Lokken Investment Group LLC raised its holdings in shares of Stryker by 7.8% during the second quarter. Lokken Investment Group LLC now owns 4,222 shares of the medical technology company's stock worth $1,670,000 after acquiring an additional 304 shares during the period. Tectonic Advisors LLC raised its holdings in shares of Stryker by 6.5% during the second quarter. Tectonic Advisors LLC now owns 2,219 shares of the medical technology company's stock worth $878,000 after acquiring an additional 135 shares during the period. Columbus Macro LLC grew its position in Stryker by 6.2% in the second quarter. Columbus Macro LLC now owns 13,107 shares of the medical technology company's stock valued at $5,186,000 after purchasing an additional 769 shares in the last quarter. InTrack Investment Management Inc grew its position in Stryker by 28.5% in the second quarter. InTrack Investment Management Inc now owns 3,886 shares of the medical technology company's stock valued at $1,538,000 after purchasing an additional 863 shares in the last quarter. Finally, AMI Investment Management Inc. grew its position in Stryker by 4.1% in the second quarter. AMI Investment Management Inc. now owns 11,079 shares of the medical technology company's stock valued at $4,383,000 after purchasing an additional 437 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Redburn Partners set a $420.00 target price on shares of Stryker in a research report on Thursday, September 18th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 target price for the company. Evercore ISI decreased their target price on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research report on Tuesday. Wells Fargo & Company raised their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Rothschild Redb raised shares of Stryker to a "hold" rating in a research report on Thursday, September 18th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of Stryker stock opened at $375.35 on Thursday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $380.99 and a two-hundred day simple moving average of $378.83. The stock has a market capitalization of $143.50 billion, a price-to-earnings ratio of 49.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the company earned $2.81 EPS. The business'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. Analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's payout ratio is presently 44.50%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.