Stryker Corporation $SYK Shares Acquired by OFI Invest Asset Management

Key Points

• OFI Invest Asset Management increased its stake in Stryker Corporation by 37.4%, owning 3,623 shares valued at approximately $1.43 million after acquiring an additional 986 shares during the second quarter.
• Stryker reported $3.13 EPS for the last quarter, exceeding analysts' expectations of $3.07, with revenue reaching $6.02 billion, surpassing estimates of $5.92 billion.
• The company recently announced a $0.84 quarterly dividend to be paid on October 31st, reflecting an annualized dividend of $3.36, with a yield of 0.9%.

OFI Invest Asset Management increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 37.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,623 shares of the medical technology company's stock after purchasing an additional 986 shares during the quarter. OFI Invest Asset Management's holdings in Stryker were worth $1,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC lifted its holdings in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after purchasing an additional 27 shares during the period. Goodman Advisory Group LLC acquired a new stake in shares of Stryker during the first quarter worth about $32,000. Ridgewood Investments LLC lifted its holdings in shares of Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after purchasing an additional 30 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Stryker during the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the first quarter worth about $40,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Down 1.5%

Stryker stock opened at $364.77 on Friday. The stock has a market capitalization of $139.46 billion, a PE ratio of 48.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.94. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The business has a 50 day simple moving average of $380.25 and a 200-day simple moving average of $378.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

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 analysts' consensus estimates 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 business's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling

In other news, insider Viju Menon sold 500 shares of the business'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 value of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYK. Rothschild Redb raised Stryker to a "hold" rating in a report on Thursday, September 18th. BTIG Research reissued a "buy" rating on shares of Stryker in a report on Monday, July 14th. Needham & Company LLC raised their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Stryker in a report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

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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