Stryker Corporation $SYK Shares Purchased by Hendley & Co. Inc.

Key Points

• Hendley & Co. Inc. increased its stake in Stryker Corporation by 60.3% during the second quarter, now holding 14,018 shares valued at approximately $5.5 million.
• Stryker's quarterly earnings exceeded expectations with $3.13 earnings per share and revenue of $6.02 billion, reflecting an 11.1% year-over-year increase.
• The company announced a quarterly dividend of $0.84 per share, with an annualized yield of 0.9%, to be paid on October 31st.

Hendley & Co. Inc. raised its stake in Stryker Corporation (NYSE:SYK - Free Report) by 60.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,018 shares of the medical technology company's stock after purchasing an additional 5,274 shares during the quarter. Stryker comprises about 1.9% of Hendley & Co. Inc.'s investment portfolio, making the stock its 18th biggest position. Hendley & Co. Inc.'s holdings in Stryker were worth $5,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. raised its position in Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after purchasing an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. raised its position in Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after purchasing an additional 3,341 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Stryker in the first quarter valued at about $1,840,000. Mar Vista Investment Partners LLC increased its position in shares of Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after acquiring an additional 8,353 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Stryker during the first quarter worth about $2,857,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.8%

Shares of Stryker stock opened at $369.14 on Wednesday. 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 firm has a market cap of $141.12 billion, a P/E ratio of 48.89, a P/E/G ratio of 2.64 and a beta of 0.94. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business has a 50-day moving average price of $381.50 and a 200 day moving average price of $378.86.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 23.94% and a net margin of 12.25%.Stryker's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is presently 44.50%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYK. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Redburn Partners set a $420.00 target price on Stryker in a research report on Thursday, September 18th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stryker in a research report on Saturday, September 27th. Wells Fargo & Company lifted their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Rothschild Redb raised Stryker to a "hold" rating in a research report on Thursday, September 18th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred 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 $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred 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 completion of the transaction, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.20% 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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