Stance Capital LLC Buys Shares of 10,467 Stryker Corporation $SYK

Stance Capital LLC purchased a new position in shares of Stryker Corporation (NYSE:SYK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,467 shares of the medical technology company’s stock, valued at approximately $4,141,000. Stryker makes up approximately 1.6% of Stance Capital LLC’s investment portfolio, making the stock its 5th biggest position.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Stryker in the second quarter worth $1,882,173,000. Alliancebernstein L.P. grew its stake in Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. Price T Rowe Associates Inc. MD raised its position in Stryker by 9.2% in the 1st 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 purchasing an additional 1,021,496 shares in the last quarter. Finally, ABN AMRO Bank N.V. purchased a new position in shares of Stryker in the 2nd quarter valued at about $191,047,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SYK. BTIG Research restated a “buy” rating and set a $410.00 target price on shares of Stryker in a research note on Friday, November 14th. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore ISI lowered their target price on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company increased their target price on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $448.00 price target on shares of Stryker in a report on Friday, November 14th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.83.

Insiders Place Their Bets

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 522,118 shares of company stock valued at $185,381,932. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

NYSE SYK opened at $353.99 on Friday. The company has a fifty day moving average of $366.81 and a two-hundred day moving average of $378.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a market capitalization of $135.37 billion, a PE ratio of 46.52, a P/E/G ratio of 2.51 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is currently 44.15%.

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.