Public Sector Pension Investment Board Buys 32,845 Shares of Stryker Corporation $SYK

Public Sector Pension Investment Board boosted its stake in Stryker Corporation (NYSE:SYK) by 16.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,140 shares of the medical technology company’s stock after purchasing an additional 32,845 shares during the quarter. Public Sector Pension Investment Board owned about 0.06% of Stryker worth $91,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Stryker by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after acquiring an additional 440,607 shares during the last quarter. State Street Corp raised its position in Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after purchasing an additional 150,204 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Stryker by 9.2% during 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 purchasing an additional 1,021,496 shares in the last quarter. Geode Capital Management LLC lifted its stake in Stryker by 1.1% during the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after purchasing an additional 79,654 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Stryker by 307.6% in 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. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $353.99 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business has a 50 day moving average price of $366.81 and a 200-day moving average price of $378.46. The firm has a market cap of $135.37 billion, a PE ratio of 46.52, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly 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 company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis 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 presently 44.15%.

Insider Buying and Selling at Stryker

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the 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 completion of the sale, the chief financial officer 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock valued at $185,381,932 in the last 90 days. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Truist Financial raised their price objective on Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a report on Friday, November 14th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup decreased their price target on shares of Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $410.00 price objective on shares of Stryker in a research note on Friday, November 14th. Finally, Barclays increased their target price on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $431.83.

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.