Stryker Corporation $SYK Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Stryker Corporation by 4.0%, owning 99,633 shares valued at $39.4 million as of the end of the most recent reporting period.
• Insider sales included Director Ronda E. Stryker selling 200,000 shares for approximately $75.3 million, representing a 5.84% reduction in her ownership.
• Stryker's recent quarterly earnings report showed a net revenue of $6.02 billion, exceeding analyst expectations, and the company has set a FY 2025 EPS guidance of 13.400-13.600.

Fifth Third Bancorp lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,633 shares of the medical technology company's stock after purchasing an additional 3,790 shares during the quarter. Fifth Third Bancorp's holdings in Stryker were worth $39,418,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Goodman Advisory Group LLC acquired a new position in shares of Stryker during the 1st quarter valued at about $32,000. City Holding Co. raised its stake in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the period. Ridgewood Investments LLC boosted its holdings in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Stryker in the 1st quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction 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 completion of the transaction, the director directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value 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. Company insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE SYK opened at $370.92 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The company has a market cap of $141.81 billion, a P/E ratio of 49.13, a P/E/G ratio of 2.69 and a beta of 0.93. The stock has a 50-day moving average of $386.51 and a two-hundred day moving average of $378.95. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the firm posted $2.81 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYK. BTIG Research reiterated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Redburn Partners set a $420.00 price objective on Stryker in a research report on Thursday, September 18th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 target price on the stock. Finally, Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Stryker presently has an average rating of "Moderate Buy" and an average target price of $430.33.

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.

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