Shell Asset Management Co. Buys 5,838 Shares of Stryker Corporation $SYK

Key Points

• Shell Asset Management Co. increased its stake in Stryker Corporation by 54.7%, acquiring an additional 5,838 shares and bringing its total holdings to 16,515 shares worth approximately $6.53 million.
• Stryker reported a Q2 2023 EPS of $3.13, surpassing expectations and showing a year-over-year revenue growth of 11.1% with total revenue of $6.02 billion.
• The company declared a quarterly dividend of $0.84 per share, with an ex-dividend date of September 30th, representing an annual yield of 0.9%.

Shell Asset Management Co. increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 54.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,515 shares of the medical technology company's stock after acquiring an additional 5,838 shares during the quarter. Shell Asset Management Co.'s holdings in Stryker were worth $6,534,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SYK. Sachetta LLC grew its holdings in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after buying an additional 27 shares during the period. Goodman Advisory Group LLC acquired a new position in Stryker in the first quarter valued at about $32,000. City Holding Co. increased its holdings in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Ridgewood Investments LLC raised its position in shares of Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after purchasing an additional 30 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in shares of Stryker during the first quarter worth about $37,000. Institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of SYK stock opened at $365.99 on Tuesday. The company has a fifty day moving average price of $382.13 and a two-hundred day moving average price of $378.92. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The stock has a market cap of $139.92 billion, a P/E ratio of 48.48, a P/E/G ratio of 2.67 and a beta of 0.94. 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 announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the firm posted $2.81 EPS. The company'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. As a group, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed 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 is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is 44.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYK. Rothschild Redb raised Stryker to a "hold" rating in a research note on Thursday, September 18th. Rothschild & Co Redburn began coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective for the company. Evercore ISI raised their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stryker in a research note on Saturday, September 27th. Finally, Redburn Partners set a $420.00 target price on Stryker in a report on Thursday, September 18th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $430.33.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value 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 approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company's stock, 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. 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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