Voya Investment Management LLC Purchases 159,662 Shares of Stryker Corporation $SYK

Key Points

• Voya Investment Management LLC increased its stake in Stryker Corporation by 22.6% in the first quarter, acquiring an additional 159,662 shares, raising its total ownership to approximately 0.23%, valued at $322.4 million.
• Stryker reported quarterly earnings of $3.13 per share, exceeding estimates, and achieved a revenue of $6.02 billion, surpassing analysts' expectations of $5.92 billion.
• The company declared a quarterly dividend of $0.84 per share, with a yield of 0.9%, scheduled for payment on October 31st to shareholders of record.

Voya Investment Management LLC boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 22.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 866,386 shares of the medical technology company's stock after purchasing an additional 159,662 shares during the quarter. Voya Investment Management LLC owned 0.23% of Stryker worth $322,417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SYK. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.1% in 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. Price T Rowe Associates Inc. MD increased its position in shares of Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. lifted 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Stryker by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock worth $776,871,000 after buying an additional 83,954 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after buying an additional 2,070,133 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Needham & Company LLC increased their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Citigroup reaffirmed a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average target price of $431.42.

Stryker Trading Down 1.4%

Shares of NYSE:SYK traded down $5.47 during mid-day trading on Friday, reaching $383.32. 985,297 shares of the company's stock were exchanged, compared to its average volume of 974,703. The firm has a market capitalization of $146.55 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 2.76 and a beta of 0.93. The business's fifty day moving average price is $388.98 and its 200-day moving average price is $379.50. 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 twelve month low of $329.16 and a twelve month high of $406.19.

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. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. The ex-dividend date 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 Buying and Selling

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction on Monday, August 25th. The shares were 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by 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.