Stryker Corporation $SYK Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,482 shares of the medical technology company's stock after acquiring an additional 3,771 shares during the period. D.A. Davidson & CO.'s holdings in Stryker were worth $34,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker during the second quarter worth about $26,000. Sachetta LLC grew its holdings in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 27 shares during the period. Goodman Advisory Group LLC purchased a new stake in Stryker in the first quarter valued at approximately $32,000. Ridgewood Investments LLC grew its stake in 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 buying an additional 30 shares during the period. Finally, Ransom Advisory Ltd purchased a new stake in Stryker during the first quarter worth approximately $37,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYK. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stryker in a research note on Wednesday, October 8th. Truist Financial decreased their price objective on shares of Stryker from $415.00 to $407.00 and set a "hold" rating for the company in a research note on Wednesday, October 15th. Redburn Partners set a $420.00 price objective on shares of Stryker in a research note on Thursday, September 18th. Finally, BTIG Research boosted their price objective on shares of Stryker from $407.00 to $408.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $431.76.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 500 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on 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 directly owned 3,222,108 shares in the company, 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. Corporate insiders own 5.20% of the company's stock.

Stryker Trading Down 0.3%

SYK opened at $379.96 on Wednesday. The stock has a market capitalization of $145.26 billion, a PE ratio of 50.33, a P/E/G ratio of 2.75 and a beta of 0.94. The firm's fifty day moving average price is $379.56 and its 200 day moving average price is $379.10. 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 Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.