Horizon Bancorp Inc. IN Takes Position in Stryker Corporation $SYK

Horizon Bancorp Inc. IN acquired a new stake in Stryker Corporation (NYSE:SYK) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 900 shares of the medical technology company’s stock, valued at approximately $356,000.

Several other institutional investors have also modified their holdings of SYK. Brighton Jones LLC lifted its stake in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Stryker during the 1st quarter worth approximately $1,840,000. GAMMA Investing LLC lifted its stake in shares of Stryker by 16.4% during the 1st quarter. GAMMA Investing LLC now owns 5,574 shares of the medical technology company’s stock worth $2,075,000 after acquiring an additional 785 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Stryker by 10.7% during the 1st quarter. Integrated Advisors Network LLC now owns 3,781 shares of the medical technology company’s stock worth $1,407,000 after acquiring an additional 366 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Stryker by 1.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,375 shares of the medical technology company’s stock worth $3,862,000 after acquiring an additional 110 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 1.4%

Shares of NYSE:SYK opened at $370.21 on Friday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The business’s fifty day simple moving average is $380.53 and its 200-day simple moving average is $378.80. The company has a market capitalization of $141.53 billion, a PE ratio of 49.03, a P/E/G ratio of 2.70 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the business posted $2.81 EPS. The business’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. As a group, equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday, September 18th. BTIG Research reissued a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Rothschild & Co Redburn assumed coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Finally, Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $430.10.

Insiders Place Their Bets

In related news, insider Viju Menon sold 500 shares of the business’s stock in a transaction 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated 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 completion of the sale, the director owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% 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.