Stryker Corporation $SYK Stake Boosted by McGuire Investment Group LLC

Key Points

• McGuire Investment Group LLC has increased its stake in Stryker Corporation by 1.5%, owning approximately 58,560 shares valued at $23.2 million, making Stryker its 10th largest holding.
• Various institutional investors have also raised their positions, with 77.09% of Stryker's stock now owned by institutional holders, indicating strong investor confidence.
• Analysts have set a consensus price target of $430.33 for Stryker shares, with ratings largely favoring a Moderate Buy outlook.

McGuire Investment Group LLC increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,560 shares of the medical technology company's stock after buying an additional 847 shares during the period. Stryker comprises approximately 3.0% of McGuire Investment Group LLC's holdings, making the stock its 10th largest holding. McGuire Investment Group LLC's holdings in Stryker were worth $23,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mogy Joel R Investment Counsel Inc. raised its holdings 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 worth $36,561,000 after purchasing an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after buying an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Stryker in the 1st quarter valued at about $1,840,000. Mar Vista Investment Partners LLC boosted its holdings in shares of Stryker by 10.2% in the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock valued at $33,572,000 after buying an additional 8,353 shares in the last quarter. Finally, United Services Automobile Association bought a new stake in shares of Stryker in the 1st quarter valued at about $2,857,000. Institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SYK shares. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Redburn Partners set a $420.00 price objective on Stryker in a research report on Thursday, September 18th. Truist Financial set a $415.00 price target on Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Wells Fargo & Company increased their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $430.33.

Stryker Stock Performance

Shares of SYK opened at $364.07 on Thursday. The stock has a 50-day moving average of $384.08 and a two-hundred day moving average of $379.01. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a market cap of $139.19 billion, a P/E ratio of 48.22, a P/E/G ratio of 2.66 and a beta of 0.95.

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 analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the firm posted $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. As a group, research analysts predict 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. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is 44.50%.

Insider Activity

In other news, 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 value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders own 5.90% 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.

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