Stryker Corporation $SYK Shares Bought by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Stryker Corporation by 0.7% during Q1, now owning 219,916 shares valued at approximately $81.86 million.
• Stryker reported earnings per share (EPS) of $3.13 for the last quarter, surpassing the consensus estimate of $3.07 and achieving a revenue of $6.02 billion.
• The company announced a quarterly dividend of $0.84 per share, with a payout ratio of 44.5%, and the ex-dividend date is set for September 30th.

Panagora Asset Management Inc. lifted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 219,916 shares of the medical technology company's stock after buying an additional 1,510 shares during the period. Panagora Asset Management Inc. owned approximately 0.06% of Stryker worth $81,864,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SYK. Brighton Jones LLC boosted its stake in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after buying an additional 609 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Stryker during the fourth quarter worth about $42,000. Wahed Invest LLC boosted its stake in shares of Stryker by 3.6% during the fourth quarter. Wahed Invest LLC now owns 9,104 shares of the medical technology company's stock worth $3,278,000 after buying an additional 314 shares during the period. Alaethes Wealth LLC boosted its stake in shares of Stryker by 2.0% during the fourth quarter. Alaethes Wealth LLC now owns 4,538 shares of the medical technology company's stock worth $1,638,000 after buying an additional 88 shares during the period. Finally, AlTi Global Inc. boosted its stake in shares of Stryker by 7.0% during the fourth quarter. AlTi Global Inc. now owns 1,538 shares of the medical technology company's stock worth $558,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

Shares of SYK stock traded down $1.80 during midday trading on Wednesday, reaching $388.14. 885,407 shares of the company traded hands, compared to its average volume of 1,411,965. The firm's 50 day simple moving average is $389.57 and its two-hundred day simple moving average is $379.45. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a market cap of $148.39 billion, a PE ratio of 51.41, a price-to-earnings-growth ratio of 2.85 and a beta of 0.93.

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 analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the firm earned $2.81 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal 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 given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

Insider Activity at Stryker

In related 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 transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of Stryker 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 transaction, the insider 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 disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

Analyst Ratings Changes

SYK has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Citigroup reaffirmed a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI lifted their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Truist Financial set a $415.00 price objective on Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company lifted their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Stryker has an average rating of "Moderate Buy" and an average 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.