Oak Ridge Investments LLC Has $11.52 Million Stock Position in Stryker Corporation $SYK

Key Points

• Oak Ridge Investments LLC increased its stake in Stryker Corporation by 6.0%, now holding 30,934 shares, which value approximately $11.5 million.
• In a notable insider transaction, Director Ronda E. Stryker sold 200,000 shares for about $75.29 million, reducing her ownership by 5.84%.
• Stryker recently announced a quarterly dividend of $0.84 per share, with an annualized payout amounting to $3.36 and a dividend yield of 0.9%.

Oak Ridge Investments LLC lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,934 shares of the medical technology company's stock after buying an additional 1,748 shares during the period. Stryker comprises 1.0% of Oak Ridge Investments LLC's portfolio, making the stock its 22nd biggest holding. Oak Ridge Investments LLC's holdings in Stryker were worth $11,515,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SYK. Continuum Advisory LLC lifted its stake in Stryker by 5.8% during the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after purchasing an additional 29 shares during the period. Oakworth Capital Inc. lifted its stake in Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares during the period. Strategy Asset Managers LLC lifted its stake in Stryker by 1.4% during the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock worth $794,000 after purchasing an additional 29 shares during the period. Rinkey Investments lifted its stake in Stryker by 1.1% during the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after purchasing an additional 30 shares during the period. Finally, Tritonpoint Wealth LLC lifted its stake in Stryker by 0.7% during the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 30 shares during the period. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SYK shares. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. 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. Needham & Company LLC lifted their target price 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. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $430.10.

Insider Activity at Stryker

In other Stryker 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 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company's stock.

Stryker Trading Up 1.2%

SYK stock traded up $4.54 during midday trading on Tuesday, reaching $386.15. The stock had a trading volume of 506,844 shares, compared to its average volume of 1,431,236. The business has a fifty day simple moving average of $386.77 and a two-hundred day simple moving average of $379.38. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market cap of $147.63 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 2.78 and a beta of 0.91. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company's revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced 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 dividend yield of 0.9%. Stryker's payout ratio is presently 44.50%.

Stryker Company 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.