T. Rowe Price Investment Management Inc. Has $1.32 Million Holdings in Stryker Corporation $SYK

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Stryker Corporation by 79.2% in Q1, now holding 3,532 shares valued at $1.315 million.
• Stryker reported quarterly earnings of $3.13 EPS, exceeding estimates and representing an 11.1% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.84 per share, with an annualized yield of 0.9% and a payout ratio of 44.50%.

T. Rowe Price Investment Management Inc. raised its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 79.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,532 shares of the medical technology company's stock after acquiring an additional 1,561 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in Stryker were worth $1,315,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Capital A Wealth Management LLC acquired a new stake in Stryker in the 4th quarter worth about $26,000. Goodman Advisory Group LLC acquired a new position in Stryker during the 1st quarter worth approximately $32,000. City Holding Co. lifted its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Stryker during the 1st quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Up 0.3%

SYK stock traded up $1.22 during mid-day trading on Friday, hitting $390.89. The stock had a trading volume of 274,416 shares, compared to its average volume of 1,414,268. The stock has a market capitalization of $149.44 billion, a price-to-earnings ratio of 51.78, a PEG ratio of 2.86 and a beta of 0.91. The company has a fifty day moving average of $388.94 and a 200 day moving average of $379.43. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts expect that Stryker Corporation will post 13.47 EPS 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 given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's payout ratio is currently 44.50%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 sale, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of the business's 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 directly owned 12,511 shares in the company, 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. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SYK. Wells Fargo & Company boosted their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Evercore ISI boosted their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.