Voleon Capital Management LP Raises Stock Holdings in Stryker Corporation $SYK

Key Points

• Voleon Capital Management LP increased its stake in Stryker Corporation by 206.6% in the first quarter, owning nearly 20,000 shares valued at approximately $7.36 million.
• Stryker reported earnings of $3.13 per share for the last quarter, exceeding analyst expectations by $0.06, along with a revenue of $6.02 billion.
• The company has declared a quarterly dividend of $0.84 per share, with a dividend yield of 0.9% and a dividend payout ratio of 44.5%.

Voleon Capital Management LP boosted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 206.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,764 shares of the medical technology company's stock after buying an additional 13,318 shares during the period. Voleon Capital Management LP's holdings in Stryker were worth $7,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in Stryker in the 4th quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new stake in Stryker during the first quarter worth about $32,000. City Holding Co. increased its stake in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in Stryker during the first quarter worth about $40,000. Finally, IMA Advisory Services Inc. purchased a new stake in Stryker during the first quarter worth about $46,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Down 0.6%

SYK stock opened at $392.02 on Monday. The company's 50 day moving average price is $389.52 and its 200 day moving average price is $379.51. 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 fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm has a market capitalization of $149.87 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 2.85 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share 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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the firm earned $2.81 earnings per share. The business's quarterly revenue 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 research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYK. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Wells Fargo & Company boosted their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Citigroup reiterated a "buy" rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Evercore ISI boosted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $430.10.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, 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. Corporate insiders own 5.20% of the company's stock.

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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