SCS Capital Management LLC Purchases New Position in Stryker Corporation $SYK

Key Points

• SCS Capital Management LLC has acquired a new position in Stryker Corporation, purchasing 6,497 shares valued at approximately $2,419,000.
• Director Ronda E. Stryker sold 200,000 shares of Stryker stock for a total of $75.29 million, marking a 5.84% decrease in her ownership.
• Stryker Corporation plans to pay a quarterly dividend of $0.84 per share, with the ex-dividend date set for September 30th, reflecting an annualized dividend yield of 0.9%.

SCS Capital Management LLC purchased a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,497 shares of the medical technology company's stock, valued at approximately $2,419,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. lifted its stake in Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after acquiring an additional 261,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Stryker by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock worth $776,871,000 after acquiring an additional 83,954 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the period. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SYK. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Citigroup reiterated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $431.42.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction on Monday, August 25th. The stock was 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. Company insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE:SYK traded down $5.47 during midday trading on Friday, hitting $383.32. The company's stock had a trading volume of 985,297 shares, compared to its average volume of 978,978. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm's 50 day moving average is $388.98 and its 200-day moving average is $379.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a market cap of $146.55 billion, a P/E ratio of 50.77, a P/E/G ratio of 2.80 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 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 company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the company earned $2.81 EPS. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm 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 dividend of $0.84 per share. The ex-dividend date 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 (DPR) is 44.50%.

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.