Stryker Corporation $SYK Shares Purchased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Stryker Corporation by 5.5%, acquiring a total of 123,124 shares valued at approximately $48.8 million as of its latest SEC filing.
• Stryker reported a quarterly earnings per share (EPS) of $3.13, beating analysts' expectations, with a revenue of $6.02 billion, representing an 11.1% increase compared to the previous year.
• The company recently announced a quarterly dividend of $0.84, with a yield of 0.9%, and has set its fiscal year 2025 EPS guidance between 13.400 and 13.600.

KLP Kapitalforvaltning AS grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,124 shares of the medical technology company's stock after buying an additional 6,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Stryker were worth $48,799,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. RMG Wealth Management LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at approximately $55,000. Richwood Investment Advisors LLC bought a new stake in Stryker during the second quarter valued at $206,000. Country Club Bank increased its stake in Stryker by 0.5% during the second quarter. Country Club Bank now owns 6,103 shares of the medical technology company's stock valued at $2,402,000 after purchasing an additional 29 shares during the last quarter. Trueblood Wealth Management LLC raised its holdings in shares of Stryker by 8.4% during the second quarter. Trueblood Wealth Management LLC now owns 4,358 shares of the medical technology company's stock worth $1,724,000 after purchasing an additional 336 shares during the period. Finally, KPP Advisory Services LLC lifted its position in shares of Stryker by 17.2% in the 2nd quarter. KPP Advisory Services LLC now owns 1,318 shares of the medical technology company's stock worth $521,000 after buying an additional 193 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of NYSE SYK opened at $365.99 on Tuesday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a market cap of $139.92 billion, a PE ratio of 48.48, a P/E/G ratio of 2.67 and a beta of 0.94. The stock has a 50 day simple moving average of $382.13 and a 200-day simple moving average of $378.92. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results 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 return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same period last year, the firm earned $2.81 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts forecast 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. 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 presently 44.50%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective for the company. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Rothschild Redb raised Stryker to a "hold" rating in a report on Thursday, September 18th. Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $430.33.

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were 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 of the company's stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated 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 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 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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