Moseley Investment Management Inc. Takes Position in Stryker Corporation $SYK

Moseley Investment Management Inc. purchased a new stake in Stryker Corporation (NYSE:SYK) in the second quarter, HoldingsChannel reports. The firm purchased 575 shares of the medical technology company’s stock, valued at approximately $227,000.

A number of other hedge funds have also made changes to their positions in SYK. Nuveen LLC purchased a new position in shares of Stryker in the first quarter valued at $558,075,000. 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 valued at $4,515,847,000 after buying an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Stryker by 66.7% in the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after buying an additional 549,643 shares in the last quarter. Vanguard Group Inc. increased its position in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Stryker by 13.1% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SYK. Redburn Partners set a $420.00 price objective on Stryker in a research report on Thursday, September 18th. BTIG Research reiterated a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Evercore ISI dropped their price objective on Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a research report on Tuesday. Rothschild Redb upgraded Stryker to a “hold” rating in a research report on Thursday, September 18th. Finally, Truist Financial set a $415.00 price objective on Stryker and gave the stock a “hold” rating in a research report on Monday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $430.10.

Insider Activity

In other news, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 1.4%

Shares of NYSE:SYK opened at $370.21 on Friday. The stock’s 50-day moving average price is $380.53 and its two-hundred day moving average price is $378.80. 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 Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm has a market cap of $141.53 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 2.70 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company earned $2.81 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

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.