Sumitomo Mitsui Trust Group Inc. Acquires 10,767 Shares of Stryker Corporation $SYK

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its stake in Stryker Corporation by 1.4%, now owning a total of 781,548 shares valued at approximately $309 million.
• Stryker reported a quarterly earnings per share (EPS) of $3.13, exceeding analysts' expectations of $3.07, and their revenue for the quarter was $6.02 billion, up 11.1% year-over-year.
• The company announced a quarterly dividend of $0.84, representing a yield of 0.9%, with the payment scheduled for October 31st.

Sumitomo Mitsui Trust Group Inc. increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 781,548 shares of the medical technology company's stock after acquiring an additional 10,767 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Stryker worth $309,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. grew its position in Stryker by 4.4% in the second quarter. Asset Management One Co. Ltd. now owns 149,071 shares of the medical technology company's stock worth $58,977,000 after acquiring an additional 6,266 shares in the last quarter. Carnegie Investment Counsel grew its position in Stryker by 1.2% in the second quarter. Carnegie Investment Counsel now owns 206,974 shares of the medical technology company's stock worth $81,885,000 after acquiring an additional 2,430 shares in the last quarter. FSM Wealth Advisors LLC grew its position in Stryker by 7.3% in the second quarter. FSM Wealth Advisors LLC now owns 2,357 shares of the medical technology company's stock worth $925,000 after acquiring an additional 160 shares in the last quarter. KPP Advisory Services LLC grew its position in Stryker by 17.2% in the second quarter. KPP Advisory Services LLC now owns 1,318 shares of the medical technology company's stock worth $521,000 after acquiring an additional 193 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in Stryker by 5.0% in the second quarter. Bleakley Financial Group LLC now owns 13,292 shares of the medical technology company's stock worth $5,259,000 after acquiring an additional 633 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Down 1.6%

NYSE:SYK opened at $382.25 on Friday. The company's 50 day moving average price is $379.84 and its 200-day moving average price is $379.42. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. 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 stock has a market cap of $146.14 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 2.80 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 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 firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the prior year, the company posted $2.81 earnings per share. The business'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 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. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Insider Activity at Stryker

In related news, insider Viju Menon sold 500 shares of the firm's 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 sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Analyst Ratings Changes

SYK has been the subject of several analyst reports. Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Barclays upped their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an "overweight" rating in a research note on Wednesday. Weiss Ratings reissued a "buy (b-)" rating on shares of Stryker in a research note on Wednesday, October 8th. Needham & Company LLC increased their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Evercore ISI decreased their price target on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research note on Tuesday, October 7th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average price target of $432.24.

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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