Bryce Point Capital LLC Takes Position in Stryker Corporation $SYK

Bryce Point Capital LLC acquired a new position in Stryker Corporation (NYSE:SYK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,299 shares of the medical technology company’s stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker during the second quarter worth approximately $26,000. Sachetta LLC increased its position in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares during the period. Ridgewood Investments LLC raised its stake in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Stryker in the 1st quarter valued at $37,000. Finally, Solstein Capital LLC acquired a new stake in Stryker in the 2nd quarter worth $43,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $362.74 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The business’s fifty day moving average price is $376.79 and its two-hundred day moving average price is $381.24. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock has a market capitalization of $138.68 billion, a price-to-earnings ratio of 48.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were paid a $0.84 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s payout ratio is 44.15%.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SYK shares. Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. Barclays raised their price objective on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Truist Financial reaffirmed a “hold” rating and issued a $392.00 target price (down from $407.00) on shares of Stryker in a research report on Monday. Finally, Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target on the stock. Fourteen investment analysts have rated the stock with a Buy rating and five 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 $433.37.

Stryker 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.