Stryker Corporation $SYK Shares Bought by Carderock Capital Management Inc.

Carderock Capital Management Inc. lifted its position in shares of Stryker Corporation (NYSE:SYK) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,309 shares of the medical technology company’s stock after acquiring an additional 1,683 shares during the quarter. Stryker accounts for about 2.3% of Carderock Capital Management Inc.’s holdings, making the stock its 15th biggest position. Carderock Capital Management Inc.’s holdings in Stryker were worth $8,677,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC boosted its position in Stryker by 5.8% during the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company’s stock worth $198,000 after purchasing an additional 29 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company’s stock worth $2,283,000 after buying an additional 29 shares in the last quarter. Strategy Asset Managers LLC grew its stake in Stryker by 1.4% in the 1st quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company’s stock valued at $794,000 after acquiring an additional 29 shares during the last quarter. Tritonpoint Wealth LLC increased its holdings in Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company’s stock valued at $1,508,000 after acquiring an additional 30 shares in the last quarter. Finally, Monetary Management Group Inc. raised its position in Stryker by 0.4% during the first quarter. Monetary Management Group Inc. now owns 7,668 shares of the medical technology company’s stock worth $2,854,000 after acquiring an additional 30 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’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 completion of the sale, the director directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 500 shares of the stock in a transaction on Monday, August 25th. The stock was 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 in the company, 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 currently owned by insiders.

Stryker Price Performance

SYK stock opened at $383.22 on Thursday. The stock has a market capitalization of $146.51 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The stock’s fifty day simple moving average is $389.22 and its 200-day simple moving average is $379.70.

Stryker (NYSE:SYK) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping 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 firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the prior year, the business posted $2.81 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SYK. Needham & Company LLC raised their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Wells Fargo & Company increased their target price on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. BTIG Research restated a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Finally, Truist Financial set a $415.00 price objective on Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $431.42.

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.