Running Oak Capital LLC Raises Holdings in Stryker Corporation $SYK

Key Points

• Running Oak Capital LLC raised its holdings in Stryker Corporation by 4.9% during the second quarter, now owning 43,295 shares valued at approximately $17.15 million.
• Stryker's recent earnings report showed an EPS of $3.13, exceeding estimates, with revenue of $6.02 billion, up 11.1% year-over-year.
• The company declared a quarterly dividend of $0.84 per share, with an ex-dividend date set for September 30th, yielding 0.9% annually.

Running Oak Capital LLC raised its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 4.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,295 shares of the medical technology company's stock after purchasing an additional 2,042 shares during the quarter. Stryker accounts for 1.9% of Running Oak Capital LLC's holdings, making the stock its 12th largest holding. Running Oak Capital LLC's holdings in Stryker were worth $17,151,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYK. Consolidated Portfolio Review Corp increased its position in shares of Stryker by 4.2% during the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company's stock valued at $256,000 after acquiring an additional 26 shares during the last quarter. Sunflower Bank N.A. boosted its position in shares of Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company's stock worth $275,000 after purchasing an additional 27 shares during the period. Pitti Group Wealth Management LLC increased its holdings in Stryker by 3.2% in the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company's stock valued at $341,000 after purchasing an additional 27 shares during the last quarter. Continuum Advisory LLC raised its position in Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after purchasing an additional 29 shares during the period. Finally, Oakworth Capital Inc. lifted its stake in Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SYK shares. Wells Fargo & Company lifted their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Rothschild & Co Redburn started coverage on shares of Stryker in a research note on Thursday, September 18th. They set a "neutral" rating and a $420.00 price target on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Stryker in a research note on Saturday, September 27th. Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. Finally, Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average price target of $430.33.

Stryker Stock Up 1.1%

Shares of Stryker stock opened at $370.59 on Monday. 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 Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a market capitalization of $141.68 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.67 and a beta of 0.94. The company has a 50 day moving average of $382.81 and a 200 day moving average of $378.96.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the 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 transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $376.45, for a total transaction 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. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

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.

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