Stryker Corporation $SYK Stock Holdings Boosted by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its holdings in Stryker Corporation by 21,855.6%, ending the first quarter with 1,976 shares worth approximately $736,000.
• Stryker's stock received positive assessments from multiple analysts, with price targets ranging from $430.10 to $456.00 and an average rating of "Moderate Buy."
• The company reported a quarterly EPS of $3.13, exceeding expectations, and announced a quarterly dividend of $0.84 per share, reflecting a 0.9% yield.

AlphaQuest LLC grew its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 21,855.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,976 shares of the medical technology company's stock after buying an additional 1,967 shares during the quarter. AlphaQuest LLC's holdings in Stryker were worth $736,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SYK. GAMMA Investing LLC boosted its position in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the period. Nuveen LLC acquired a new position in shares of Stryker during the first quarter worth about $558,075,000. Price T Rowe Associates Inc. MD boosted its position in shares of Stryker by 9.2% in 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 buying an additional 1,021,496 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Stryker in the fourth quarter worth about $154,140,000. Finally, Northern Trust Corp grew its stake in shares of Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after buying an additional 420,153 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, insider Viju Menon sold 500 shares of the business's stock in a transaction dated Monday, August 25th. The shares were 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was 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. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on SYK. Needham & Company LLC upped their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. 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. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a report on Monday, July 14th. Roth Mkm boosted their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Stock Up 0.4%

NYSE SYK traded up $1.55 on Friday, hitting $391.22. 304,456 shares of the stock traded hands, compared to its average volume of 1,414,466. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $388.94 and a 200 day moving average of $379.43. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a market capitalization of $149.57 billion, a P/E ratio of 51.83, a price-to-earnings-growth ratio of 2.86 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. The company 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 business's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, analysts expect 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. Shareholders of record on Tuesday, September 30th will be paid 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 payout ratio is presently 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.