Sciencast Management LP Grows Stake in Stryker Corporation $SYK

Key Points

• Sciencast Management LP increased its stake in Stryker Corporation by 13.4% during the first quarter, holding a total of 9,555 shares valued at approximately $3.56 million.
• Stryker reported an EPS of $3.13 for the last quarter, exceeding analyst expectations of $3.07, alongside revenues of $6.02 billion.
• The company declared a quarterly dividend of $0.84 per share, with an upcoming payment date of October 31st, reflecting a 0.9% yield.

Sciencast Management LP raised its stake in Stryker Corporation (NYSE:SYK - Free Report) by 13.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,555 shares of the medical technology company's stock after acquiring an additional 1,127 shares during the quarter. Stryker makes up 0.8% of Sciencast Management LP's holdings, making the stock its 28th biggest position. Sciencast Management LP's holdings in Stryker were worth $3,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its position in shares of 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. Oakworth Capital Inc. raised its position in shares of Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after purchasing an additional 29 shares during the period. Strategy Asset Managers LLC raised its position in shares of Stryker by 1.4% in the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock valued at $794,000 after purchasing an additional 29 shares during the period. Tritonpoint Wealth LLC raised its position in shares of Stryker by 0.7% in the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock valued at $1,508,000 after purchasing an additional 30 shares during the period. Finally, Monetary Management Group Inc. raised its position in shares of Stryker by 0.4% in the first quarter. Monetary Management Group Inc. now owns 7,668 shares of the medical technology company's stock valued at $2,854,000 after purchasing an additional 30 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE:SYK opened at $392.02 on Monday. The company's fifty day moving average price is $389.52 and its 200-day moving average price is $379.51. The firm has a market capitalization of $149.87 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 2.85 and a beta of 0.93. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The firm 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 business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. 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. Citigroup reissued a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

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.

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