Triasima Portfolio Management inc. Increases Stock Position in Stryker Corporation $SYK

Key Points

• Triasima Portfolio Management Inc. increased its stake in Stryker Corporation by 160.9%, owning 10,424 shares valued at $4.12 million as of its latest SEC filing.
• Stryker's recent quarterly earnings showed an earnings per share (EPS) of $3.13, surpassing estimates, with a revenue of $6.02 billion, an 11.1% increase compared to the previous year.
• The company announced a quarterly dividend of $0.84 per share, to be paid on October 31, with an annualized yield of 0.9%.

Triasima Portfolio Management inc. boosted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 160.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,424 shares of the medical technology company's stock after purchasing an additional 6,428 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Stryker were worth $4,124,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. REAP Financial Group LLC lifted its stake in Stryker by 90.4% in the 2nd quarter. REAP Financial Group LLC now owns 139 shares of the medical technology company's stock worth $55,000 after purchasing an additional 66 shares in the last quarter. Sax Wealth Advisors LLC lifted its stake in Stryker by 329.6% in the 2nd quarter. Sax Wealth Advisors LLC now owns 2,638 shares of the medical technology company's stock worth $1,044,000 after purchasing an additional 2,024 shares in the last quarter. BankPlus Trust Department raised its position in shares of Stryker by 425.7% during the 2nd quarter. BankPlus Trust Department now owns 389 shares of the medical technology company's stock valued at $154,000 after buying an additional 315 shares in the last quarter. Canopy Partners LLC raised its position in shares of Stryker by 26.0% during the 2nd quarter. Canopy Partners LLC now owns 1,811 shares of the medical technology company's stock valued at $716,000 after buying an additional 374 shares in the last quarter. Finally, Shell Asset Management Co. raised its position in shares of Stryker by 54.7% during the 2nd quarter. Shell Asset Management Co. now owns 16,515 shares of the medical technology company's stock valued at $6,534,000 after buying an additional 5,838 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $369.14 on Wednesday. The company has a market capitalization of $141.12 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 2.64 and a beta of 0.94. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm's 50-day moving average is $381.50 and its 200 day moving average is $378.86. 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 issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio is currently 44.50%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYK. Redburn Partners set a $420.00 target price on shares of Stryker in a research report on Thursday, September 18th. Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research report on Saturday, September 27th. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Finally, Wells Fargo & Company upped their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

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.

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