Zurich Insurance Group Ltd FI Has $88.46 Million Position in Stryker Corporation $SYK

Key Points

• Zurich Insurance Group Ltd FI increased its holdings in Stryker Corporation by 26.0%, now owning approximately $88.46 million worth of shares.
• Analysts favor Stryker, with multiple firms issuing "buy" ratings and raising price targets, leading to a consensus price target of $430.10.
• Stryker announced a quarterly dividend of $0.84 per share, reflecting an annualized yield of 0.9%, with payment scheduled for October 31st.

Zurich Insurance Group Ltd FI boosted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 26.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,627 shares of the medical technology company's stock after buying an additional 49,083 shares during the period. Zurich Insurance Group Ltd FI owned approximately 0.06% of Stryker worth $88,457,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SYK. Capital A Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter worth about $26,000. Goodman Advisory Group LLC bought a new stake in Stryker during the 1st quarter worth approximately $32,000. City Holding Co. raised its stake in shares of Stryker by 528.6% in 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 last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker in the first quarter valued at approximately $40,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Stryker by 46.0% during the first quarter. Cornerstone Planning Group LLC now owns 127 shares of the medical technology company's stock valued at $45,000 after buying an additional 40 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the subject of a number of analyst reports. Citigroup reissued a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. 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 research report on Friday, August 1st. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Activity

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 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 approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 500 shares of the business's 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 sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Stryker Trading Up 0.2%

Shares of SYK stock opened at $393.12 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market cap of $150.29 billion, a P/E ratio of 52.07, a PEG ratio of 2.85 and a beta of 0.93. The company has a 50 day moving average of $389.47 and a 200-day moving average of $379.58. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the company earned $2.81 earnings per share. Stryker's 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. Sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 payout ratio is currently 44.50%.

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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