Stryker Corporation $SYK Shares Acquired by Addenda Capital Inc.

Key Points

• Addenda Capital Inc. increased its stake in Stryker Corporation by 14.1% during the second quarter, resulting in holdings valued at approximately $8.49 million.
• Stryker Corporation reported a net income of $3.13 EPS for the last quarter, surpassing analysts' expectations by $0.06 with revenues of $6.02 billion.
• The company declared a quarterly dividend of $0.84, reflecting an annual yield of 0.9%, scheduled to be paid on October 31 to shareholders of record as of September 30.

Addenda Capital Inc. lifted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,428 shares of the medical technology company's stock after acquiring an additional 2,652 shares during the period. Addenda Capital Inc.'s holdings in Stryker were worth $8,493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Sunflower Bank N.A. boosted its stake in shares of Stryker by 4.0% in the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company's stock valued at $275,000 after purchasing an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC raised its position in Stryker by 3.2% in the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company's stock valued at $341,000 after purchasing an additional 27 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of 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 last quarter. Oakworth Capital Inc. raised its holdings in shares of Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after buying an additional 29 shares during the last quarter. Finally, Strategy Asset Managers LLC lifted its position in Stryker by 1.4% during the 1st quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock worth $794,000 after buying an additional 29 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of SYK opened at $368.83 on Friday. 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 Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The stock has a 50 day simple moving average of $385.71 and a 200 day simple moving average of $379.08. The firm has a market capitalization of $141.01 billion, a PE ratio of 48.85, a P/E/G ratio of 2.66 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share 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 net margin of 12.25% and a return on equity of 23.94%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SYK shares. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a report on Friday. Rothschild & Co Redburn initiated coverage on shares of Stryker in a research note on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price objective on the stock. Rothschild Redb upgraded shares of Stryker to a "hold" rating in a research report on Thursday, September 18th. Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $430.33.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction 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 sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% 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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