Stryker Corporation $SYK Position Increased by Scharf Investments LLC

Key Points

• Scharf Investments LLC increased its stake in Stryker Corporation by 8.9%, owning 8,700 shares valued at $3,442,000 following the purchase of an additional 711 shares in Q2.
• Stryker recently reported $3.13 earnings per share for the last quarter, exceeding estimates, with a revenue of $6.02 billion, marking an 11.1% year-over-year increase.
• The company announced a quarterly dividend of $0.84 to be paid on October 31st, representing an annualized dividend yield of 0.9%.

Scharf Investments LLC raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,700 shares of the medical technology company's stock after purchasing an additional 711 shares during the period. Scharf Investments LLC's holdings in Stryker were worth $3,442,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Ridgewood Investments LLC lifted its stake in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after purchasing an additional 30 shares in the last quarter. Maryland Capital Advisors Inc. purchased a new stake in shares of Stryker in the second quarter valued at about $53,000. Lewis Asset Management LLC purchased a new stake in shares of Stryker in the second quarter valued at about $428,000. Toth Financial Advisory Corp increased its stake in shares of Stryker by 0.4% during the second quarter. Toth Financial Advisory Corp now owns 51,205 shares of the medical technology company's stock worth $20,258,000 after acquiring an additional 181 shares during the period. Finally, Park Avenue Securities LLC grew its position in Stryker by 8.0% during the second quarter. Park Avenue Securities LLC now owns 12,527 shares of the medical technology company's stock worth $4,956,000 after buying an additional 930 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYK has been the subject of several recent research reports. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Redburn Partners set a $420.00 price target on shares of Stryker in a report on Thursday. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday. They issued a "neutral" rating and a $420.00 price target on the stock. Rothschild Redb upgraded shares of Stryker to a "hold" rating in a report on Thursday. Finally, Evercore ISI boosted their target price on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $430.33.

Stryker Stock Performance

NYSE:SYK traded up $1.87 on Monday, hitting $378.70. The stock had a trading volume of 2,095,205 shares, compared to its average volume of 985,669. 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 business's 50-day simple moving average is $387.26 and its two-hundred day simple moving average is $379.05. The stock has a market cap of $144.78 billion, a price-to-earnings ratio of 50.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company earned $2.81 EPS. Stryker's quarterly 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, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction dated 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 owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Company 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.