Victrix Investment Advisors Acquires New Position in Stryker Corporation $SYK

Key Points

• Victrix Investment Advisors has acquired a new stake in Stryker Corporation, purchasing 1,283 shares valued at approximately $508,000 during the second quarter.
• Several significant institutional investors, including Nuveen LLC and Vanguard Group Inc., have significantly increased their holdings in Stryker, reflecting growing confidence in the company.
• Stryker has announced a quarterly dividend of $0.84 per share, set to be paid on October 31st, indicating its commitment to returning value to shareholders.

Victrix Investment Advisors acquired a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,283 shares of the medical technology company's stock, valued at approximately $508,000.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Nuveen LLC purchased a new position in shares of Stryker during the first quarter valued at approximately $558,075,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Stryker by 9.2% during the first 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 buying an additional 1,021,496 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock valued at $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. lifted its stake in shares of Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after purchasing an additional 261,058 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SYK shares. Rothschild Redb raised shares of Stryker to a "hold" rating in a research report on Thursday, September 18th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price objective for the company. Redburn Partners set a $420.00 price target on shares of Stryker in a report on Thursday, September 18th. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Needham & Company LLC raised their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.33.

Stryker Trading Down 0.1%

Stryker stock opened at $369.44 on Wednesday. The firm's 50-day moving average is $384.81 and its 200-day moving average is $379.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a market cap of $141.24 billion, a P/E ratio of 48.93, a PEG ratio of 2.67 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the firm posted $2.81 EPS. The company'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 analysts expect that Stryker Corporation will post 13.47 earnings per share 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 dividend of $0.84 per share. 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 (DPR) is presently 44.50%.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Viju Menon sold 500 shares of Stryker 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 transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

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.

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