Twin Tree Management LP Acquires New Holdings in Stryker Corporation $SYK

Key Points

• Twin Tree Management LP acquired a new stake in Stryker Corporation during the 2nd quarter, purchasing 2,036 shares valued at approximately $806,000.
• Stryker's stock opened at $374.67, with the company reporting a revenue of $6.02 billion and an earnings per share of $3.13 for the latest quarter, exceeding analyst expectations.
• The company declared a quarterly dividend of $0.84 per share, with a dividend yield of 0.9% and a payout ratio of 44.50%.

Twin Tree Management LP acquired a new stake in Stryker Corporation (NYSE:SYK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,036 shares of the medical technology company's stock, valued at approximately $806,000.

Several other hedge funds have also recently bought and sold shares of the company. Sachetta LLC increased its stake in Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after buying an additional 27 shares during the period. Goodman Advisory Group LLC bought a new position in shares of Stryker during the 1st quarter valued at about $32,000. Ridgewood Investments LLC boosted its position in shares of Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after purchasing an additional 30 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Stryker during the 1st quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker during the 1st quarter valued at about $40,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of SYK opened at $374.67 on Friday. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a 50-day moving average of $379.40 and a two-hundred day moving average of $378.77. The stock has a market cap of $143.24 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 2.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same period last 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 expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

SYK has been the subject of several research reports. Evercore ISI reduced their price objective on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective for the company. Wells Fargo & Company raised their price objective 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. Rothschild Redb upgraded shares of Stryker to a "hold" rating in a research report on Thursday, September 18th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $431.76.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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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