Baskin Financial Services Inc. lifted its holdings in shares of Stryker Corporation (NYSE:SYK – Free Report) by 0.6% in the second quarter, HoldingsChannel.com reports. The firm owned 112,795 shares of the medical technology company’s stock after acquiring an additional 674 shares during the quarter. Stryker accounts for about 3.4% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 13th largest holding. Baskin Financial Services Inc.’s holdings in Stryker were worth $44,625,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Sachetta LLC grew its holdings in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares during the period. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the 1st quarter worth $32,000. Ridgewood Investments LLC grew its holdings in shares of Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 30 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Stryker during the 1st quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker during the 1st quarter worth $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Rothschild & Co Redburn assumed coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. BTIG Research restated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Rothschild Redb upgraded Stryker to a “hold” rating in a report on Thursday, September 18th. Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Truist Financial set a $415.00 target price on Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $430.10.
Insider Activity
In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s 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 sale, 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 position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.
Stryker Stock Performance
Shares of SYK opened at $370.21 on Friday. The stock has a 50-day simple moving average of $380.53 and a 200-day simple moving average of $378.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a market capitalization of $141.53 billion, a PE ratio of 49.03, a PEG ratio of 2.70 and a beta of 0.94. Stryker Corporation has a 1 year low of $329.16 and a 1 year 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 (EPS) 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 analysts’ expectations of $5.92 billion. During the same quarter last year, the business posted $2.81 EPS. The business’s quarterly 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. On average, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is 44.50%.
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.
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