Swedbank AB Purchases 6,742 Shares of Stryker Corporation $SYK

Key Points

• Swedbank AB increased its stake in Stryker Corporation by 6.0% during the second quarter, acquiring an additional 6,742 shares, bringing its total holdings to 119,978 shares worth approximately $47.5 million.
• Other institutional investors, such as GAMMA Investing LLC and Price T Rowe Associates, also significantly increased their stakes in Stryker, underscoring strong interest from hedge funds.
• Stryker has set a projected earnings per share (EPS) guidance of $13.400-$13.600 for FY 2025, following a robust quarterly performance that exceeded revenue expectations and reported an EPS of $3.13.

Swedbank AB increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,978 shares of the medical technology company's stock after acquiring an additional 6,742 shares during the period. Swedbank AB's holdings in Stryker were worth $47,467,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after purchasing an additional 261,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Stryker by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock worth $776,871,000 after acquiring an additional 83,954 shares during the period. Finally, GAMMA Investing LLC boosted its position in Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the business'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 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the company'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 sale, the insider owned 12,511 shares in the company, valued at $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.

Stryker Price Performance

Stryker stock traded down $1.23 during mid-day trading on Friday, reaching $376.61. 1,924,253 shares of the company were exchanged, compared to its average volume of 934,259. The company has a fifty day simple moving average of $387.52 and a 200-day simple moving average of $379.07. Stryker Corporation has a 12 month low of $329.16 and a 12 month 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 $143.98 billion, a PE ratio of 49.88, a PEG ratio of 2.71 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the company earned $2.81 EPS. The company's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 paid 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 have commented on the company. Needham & Company LLC raised their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Rothschild & Co Redburn assumed coverage on Stryker in a research report on Thursday. They set a "neutral" rating and a $420.00 price objective for the company. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Rothschild Redb upgraded Stryker to a "hold" rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price target on Stryker from $435.00 to $445.00 and gave the stock an "overweight" 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 company. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $430.33.

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.