Strategic Blueprint LLC Increases Stock Position in Stryker Corporation $SYK

Key Points

• Strategic Blueprint LLC increased its stake in Stryker Corporation by 79.3% in the second quarter, acquiring an additional 1,039 shares and bringing their total ownership to 2,350 shares valued at around $930,000.
• Various large institutional investors, including Nuveen LLC and Price T Rowe Associates Inc., have also made significant adjustments to their holdings in Stryker during the first quarter, indicating growing interest in the company.
• Analysts have raised their price targets for Stryker, with most giving a Buy rating, as the average target price is now $432.24 following recent positive earnings reports.

Strategic Blueprint LLC boosted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 79.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,350 shares of the medical technology company's stock after purchasing an additional 1,039 shares during the quarter. Strategic Blueprint LLC's holdings in Stryker were worth $930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SYK. Nuveen LLC purchased a new position in shares of Stryker during the first quarter worth approximately $558,075,000. Price T Rowe Associates Inc. MD raised 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 worth $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock worth $511,152,000 after acquiring an additional 549,643 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Stryker by 1.1% during 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 acquiring an additional 361,136 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Stryker by 13.1% during 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 in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business'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 sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the business's 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 owned 12,511 shares in the company, valued at approximately $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 5.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BTIG Research lifted their price target on shares of Stryker from $407.00 to $408.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a report on Friday. Wells Fargo & Company raised 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. Redburn Partners set a $420.00 target price on shares of Stryker in a report on Thursday, September 18th. Finally, Evercore ISI cut their target price on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating on the stock in a report on Tuesday, October 7th. 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 has an average rating of "Moderate Buy" and an average target price of $432.24.

Stryker Stock Performance

NYSE:SYK opened at $381.86 on Friday. The stock has a market cap of $145.99 billion, a P/E ratio of 50.58, a price-to-earnings-growth ratio of 2.76 and a beta of 0.94. The firm's fifty day simple moving average is $379.84 and its 200 day simple moving average is $379.73. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. 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 (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.81 earnings per share. 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 EPS for the current year.

Stryker Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.