Strs Ohio Makes New $40.05 Million Investment in Stryker Corporation $SYK

Key Points

• Strs Ohio has made a significant investment in Stryker Corporation, acquiring 107,585 shares valued at approximately $40.05 million during Q1, indicating growing institutional interest in the medical technology sector.
• Stryker's earnings report for the latest quarter exceeded expectations, reporting $3.13 earnings per share, up from $2.81 the previous year, alongside revenue growth of 11.1%.
• Equities analysts have upgraded their price targets for Stryker, with several placing it as a "buy," suggesting strong market confidence with a consensus price target of $431.42.

Strs Ohio acquired a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 107,585 shares of the medical technology company's stock, valued at approximately $40,049,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jacobi Capital Management LLC raised its stake in Stryker by 2.7% during the 1st quarter. Jacobi Capital Management LLC now owns 3,871 shares of the medical technology company's stock valued at $1,441,000 after purchasing an additional 103 shares during the period. Carderock Capital Management Inc. boosted its position in shares of Stryker by 7.8% in the first quarter. Carderock Capital Management Inc. now owns 23,309 shares of the medical technology company's stock worth $8,677,000 after buying an additional 1,683 shares during the period. Advisors Capital Management LLC grew its holdings in shares of Stryker by 1.7% during the first quarter. Advisors Capital Management LLC now owns 59,224 shares of the medical technology company's stock valued at $22,046,000 after buying an additional 987 shares in the last quarter. Indiana Trust & Investment Management Co raised its position in Stryker by 3.5% during the first quarter. Indiana Trust & Investment Management Co now owns 3,961 shares of the medical technology company's stock valued at $1,474,000 after buying an additional 135 shares during the period. Finally, MBL Wealth LLC lifted its stake in Stryker by 25.6% in the 1st quarter. MBL Wealth LLC now owns 1,070 shares of the medical technology company's stock worth $398,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Down 1.5%

Shares of NYSE SYK traded down $5.85 during trading hours on Monday, hitting $377.49. The stock had a trading volume of 843,029 shares, compared to its average volume of 1,391,122. The company has a market capitalization of $144.32 billion, a P/E ratio of 50.00, a P/E/G ratio of 2.76 and a beta of 0.93. The firm's 50-day moving average price is $388.98 and its two-hundred day moving average price is $379.50. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, 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 disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Needham & Company LLC upped their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company lifted their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $431.42.

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.