Thematics Asset Management Boosts Stake in Stryker Corporation $SYK

Key Points

• Thematics Asset Management significantly increased its stake in Stryker Corporation by 3,669.4% during the first quarter, acquiring a total of 12,929 shares valued at approximately $4.81 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Stryker shares, with an average price target of $430.10 as multiple firms raised their price objectives recently.
• Stryker Corporation announced a quarterly dividend of $0.84 per share, set to be paid on October 31st, with a current dividend yield of 0.9%.

Thematics Asset Management lifted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3,669.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,929 shares of the medical technology company's stock after buying an additional 12,586 shares during the period. Thematics Asset Management's holdings in Stryker were worth $4,813,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new position in shares of Stryker during the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter valued at approximately $32,000. City Holding Co. boosted its position in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker during the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Stryker during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, insider Viju Menon sold 500 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, 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 disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of NYSE:SYK traded down $0.96 during midday trading on Wednesday, reaching $393.37. 648,820 shares of the company traded hands, compared to its average volume of 1,354,183. 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 Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm has a market capitalization of $150.39 billion, a price-to-earnings ratio of 52.10, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The firm's fifty day moving average price is $388.21 and its two-hundred day moving average price is $379.35.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the company posted $2.81 EPS. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. 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 earnings per share for the current 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 dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is presently 44.50%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Roth Mkm lifted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

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.