The Manufacturers Life Insurance Company Buys 4,426 Shares of Stryker Corporation $SYK

Key Points

• The Manufacturers Life Insurance Company increased its stake in Stryker Corporation by 0.4%, owning approximately 1.18 million shares valued at $440 million.
• Stryker reported earnings per share (EPS) of $3.13 for the latest quarter, exceeding analysts' expectations, with revenue reaching $6.02 billion, a year-over-year growth of 11.1%.
• The company announced a quarterly dividend of $0.84 per share set to be paid on October 31, reflecting a 0.9% dividend yield and a payout ratio of 44.50%.

The Manufacturers Life Insurance Company grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,182,824 shares of the medical technology company's stock after purchasing an additional 4,426 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.31% of Stryker worth $440,296,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SYK. Capital A Wealth Management LLC acquired a new stake in shares of Stryker during the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Stryker during the first quarter worth approximately $32,000. City Holding Co. grew its position in shares of 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 buying an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Stryker in the first quarter worth $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker in the fourth quarter worth $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Needham & Company LLC lifted their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Evercore ISI lifted their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average target price of $430.10.

Stryker Price Performance

Stryker stock traded down $1.76 during midday trading on Tuesday, hitting $389.65. The company's stock had a trading volume of 1,123,343 shares, compared to its average volume of 1,413,865. 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 stock's 50-day moving average price is $389.51 and its 200-day moving average price is $379.38. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a market capitalization of $148.97 billion, a PE ratio of 51.61, a price-to-earnings-growth ratio of 2.85 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period in the previous year, the business earned $2.81 earnings per share. Stryker'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. Analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. 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%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm'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 transaction of $75,290,000.00. Following the completion of the sale, 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 can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of the 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 transaction, 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 5.20% of the company's stock.

About Stryker

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.