Stryker Corporation $SYK Stock Position Raised by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Stryker Corporation by 74.5% during the first quarter, now holding 168,648 shares valued at approximately $62.76 million.
• Stryker reported a quarterly EPS of $3.13, exceeding analyst expectations and reflecting an 11.1% year-over-year revenue growth to $6.02 billion.
• The company declared a quarterly dividend of $0.84 per share, with a dividend yield of 0.9%, payable on October 31st.

Acadian Asset Management LLC lifted its position in Stryker Corporation (NYSE:SYK - Free Report) by 74.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 168,648 shares of the medical technology company's stock after acquiring an additional 71,991 shares during the quarter. Acadian Asset Management LLC's holdings in Stryker were worth $62,759,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in shares of Stryker by 9.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 15,355 shares of the medical technology company's stock valued at $5,716,000 after acquiring an additional 1,337 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of Stryker by 2.0% in the 1st quarter. Belpointe Asset Management LLC now owns 1,694 shares of the medical technology company's stock valued at $631,000 after acquiring an additional 33 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Stryker by 59.0% in the 1st quarter. Intech Investment Management LLC now owns 5,500 shares of the medical technology company's stock valued at $2,047,000 after acquiring an additional 2,040 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Stryker by 1.7% in the 1st quarter. Focus Partners Wealth now owns 130,156 shares of the medical technology company's stock valued at $48,451,000 after acquiring an additional 2,167 shares in the last quarter. Finally, Flaharty Asset Management LLC purchased a new stake in shares of Stryker in the 1st quarter valued at approximately $102,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of SYK opened at $383.22 on Thursday. The company's fifty day moving average is $389.22 and its 200-day moving average is $379.70. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm has a market cap of $146.51 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the business posted $2.81 EPS. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on SYK shares. Evercore ISI upped their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Needham & Company LLC upped their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and a consensus price target of $431.42.

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 transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company's 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 of the company's stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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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