Advisors Capital Management LLC Boosts Position in Stryker Corporation $SYK

Advisors Capital Management LLC raised its stake in shares of Stryker Corporation (NYSE:SYK) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,224 shares of the medical technology company’s stock after buying an additional 987 shares during the quarter. Advisors Capital Management LLC’s holdings in Stryker were worth $22,046,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new position in shares of Stryker during the fourth quarter worth about $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter worth about $32,000. City Holding Co. grew its holdings in shares of Stryker by 528.6% during 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 in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Stryker during the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker during the first quarter worth about $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $383.22 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The business has a 50 day moving average of $389.22 and a 200 day moving average of $379.70. The company has a market capitalization of $146.51 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 2.86 and a beta of 0.93.

Stryker (NYSE:SYK) 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 firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the company posted $2.81 earnings per share. The business’s 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, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on SYK shares. Needham & Company LLC boosted their price objective on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. BTIG Research reissued a “buy” rating on shares of Stryker in a report on Monday, July 14th. Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Truist Financial set a $415.00 price objective on Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Finally, Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.42.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider 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 disclosure for this sale can be found here. 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.